The minister of state in the ministry of petroleum & natural gas, Dharmendra Pradhan said there is no significant impact on import of crude oil from Iraq due to the prevailing political crisis in that country. However, there is no plan for storage of oil in the country.
"Supply of crude oil from the gulf countries have by and large remained unaffected. However, in the light of possible disruptions of supplies and/or a spike in oil prices, the Government has issued directives to the public sector oil companies to draw up contingency plans and also make medium and long term plans including diversification of their sources for import of crude oil in order to minimize the impact of any geopolitical instability," the minister said.