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Informist, Thursday, Apr. 2, 2026

 

--Govt: Actively considering raising India's strategic petroleum reserves

--CONTEXT: Comments by officials in a press conference on West Asia crisis

--Govt: Crude supplies lined up for next 60 days

 

NEW DELHI – Export of diesel and aviation turbine fuel from Reliance Industries Ltd.'s refinery in the special economic zone of Jamnagar is exempt from special excise duty and additional special excise duty, the government said Thursday.

 

The exemption is meant to "allow SEZ units to utilise their capacity in a better manner", Sanjay Mangal, member of the Central Board of Indirect Taxes and Customs, said in response to a media query at the inter-ministerial press briefing on West Asia war. He added that "no revenue impact can be calculated as such" in consequence of the exemption.

 

On Mar. 26, India imposed export duties of INR 21.50 per litre on diesel and INR 29.50 per litre on aviation turbine fuel while exempting petrol exports. RIL's refinery is an only-for-exports unit with a capacity of 35.2 million tonnes per year.

 

Petroleum and natural gas ministry's Joint Secretary Sujata Sharma said that crude oil supplies are tied up for the next 60 days and "crude inventories are sufficient". All refineries are working at full capacity, she said.

 

Sharma said requests have been received from the Department of Pharmaceuticals, Department of Food and Public Distribution, and Department of Chemicals and Petrochemicals for C3 and C4 molecules, that is propane, butane, propylene, and butylene.

 

On Mar. 9, an order was issued to divert these molecules mostly for the production of liquefied petroleum gas. She said a committee has been formed to decide how much can be diverted. Sharma said there can be some impact on the production of LPG, but it is being ensured that supply to domestic consumers is not affected.

 

She said no dry-out has been reported at any LPG distributorship. However, some complaints have been received regarding 5-kg cylinders. "We are looking into the matter on how to streamline the system," she said, adding that 430,000 5-kg cylinders have been sold since Mar. 23.

 

Also, 12,400 consumers who have piped natural gas connections have surrendered their LPG connections. In attempts to stop black-marketing of cooking gas, state government authorities conducted 2,600 raids on Wednesday and seized 700 cylinders, she added.

 

Sharma said the government is "actively considering" to increase India's strategic petroleum reserves. Currently, India holds 5.33 million tonnes of strategic oil reserves. The government is working on expanding this capacity to over 6.5 million tonnes. 

 

Responding to a media query about the annual Haj pilgrimage, Aseem Mahajan, additional secretary, Ministry of External Affairs, said preparations for the Haj 2026 are going on normally. Around 175,000 Indians are expected to travel to Saudi Arabia for Haj this year.

 

Mahajan also informed that with Qatar's airspace partially open, 8-10 flights are scheduled to reach India Thursday, and 90 flights will be operating from the United Arab Emirates to various places in India. End

 

Reported by Asim Khan

Edited by Ashish Shirke

 

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