A Parliamentary Standing Committee on Petroleum and Natural Gas has recommended that the government increase its crude oil reserves to meet the global benchmark of 90 days of buffer stock, citing concerns over global supply disruptions.
In its 7th report on Demand for Grants (2026–27), the panel said the Ministry of Petroleum and Natural Gas should make every possible effort to achieve this target, including exploring the construction of additional underground storage caverns wherever feasible.
The committee also stressed the need to accelerate the rollout of Piped Natural Gas (PNG) connections under the City Gas Distribution network. With a target of over 12 crore PNG connections by 2034, it noted that current coverage remains below the desired level and suggested prioritising expansion.
On LPG access, the panel expressed concern over low refill rates among beneficiaries of the Pradhan Mantri Ujjwala Yojana (PMUY), particularly in rural and low-income households. It recommended that the government explore the possibility of providing higher subsidies in regions with low refill uptake to ensure sustained usage.
The committee also underlined the need to make LPG more affordable and accessible for existing beneficiaries, especially in economically weaker sections.
Highlighting India’s growing energy demand, the panel noted that the country’s total primary energy requirement is projected to nearly double from around 22 million barrels of oil equivalent per day in 2024 to about 43.6 million barrels per day by 2050.
Citing the International Energy Agency (IEA), the report said India is expected to account for over 40 percent of the global increase in oil demand and around 8 percent of the growth in natural gas demand in the coming years.
The panel said these trends underline the need to strengthen energy security through higher reserves, expanded gas infrastructure and improved access to clean cooking fuels.
