5th IGoM on West Asia: India has 60 days crude, 60 days natural gas, 45 days LPG buffer stocks

📌 Summary:

• Raksha Mantri Shri Rajnath Singh chaired the 5th Informal Group of Ministers (IGoM) on West Asia on May 11, 2026 at Kartavya Bhawan-2, New Delhi, to review impacts of the ongoing West Asia conflict on Indian economy and energy supplies.

• India has 60 days of crude oil, 60 days of natural gas, and 45 days of LPG rolling stock — no shortage of any petroleum product despite global supply chain disruptions.

• Foreign exchange reserves stand at a comfortable $703 billion, providing a strong external buffer against the crisis.

• India remains the world's 3rd largest oil refiner and 4th largest exporter of petroleum products, exporting to over 150 countries; domestic demand is being fully met.

• High international crude prices are imposing a huge cost on the nation; PM Modi has called on citizens for collective participation through prudent use of petroleum products, work from home, fuel conservation, etc.

• Government's primary focus: ensure uninterrupted energy flow, economic stability, and security of maritime trade routes.

• IGoM stressed need for strategic crisis anticipation, early warning assessment, scenario planning and whole-of-government preparedness.

• Long-run capacity building is the intent, with concrete steps taken to prevent supply chain disruptions and avoid public panic.

🎯 UPSC Relevance: GS3 — Energy security, India's strategic petroleum reserves, External sector resilience; GS2 — West Asia diplomacy, Indian diaspora protection.

📝 Prelims Facts:

• IGoM = Informal Group of Ministers

• India ranks 3rd globally in oil refining capacity, 4th in petroleum product exports

• Forex reserves: $703 billion (May 2026)

• Rolling stocks: 60 days crude oil, 60 days natural gas, 45 days LPG

• Meeting venue: Kartavya Bhawan-2, New Delhi (replaced North/South Block secretariats)

🔑 Key Term: Strategic Petroleum Reserve (SPR) — Stockpiles of crude oil maintained by India under the Indian Strategic Petroleum Reserves Limited (ISPRL) at Visakhapatnam, Mangalore, and Padur to insulate against short-term supply disruptions.