India may adopt a strategy similar to China’s approach to managing its oil reserves, with refiners potentially required to hold significantly more crude oil.

This move aims to bolster the nation’s energy security and protect it from future supply shocks.

The proposal is still in its early stages, but if implemented, it could have substantial implications for the country’s refineries.

According to reports, refiners might face significant costs associated with storage and oil purchases under this policy.

India’s energy security has been a growing concern in recent years, particularly given the country’s increasing reliance on imported oil.

A China-like approach to oil storage could help mitigate these risks and ensure a more stable supply of crude oil for Indian refineries.

The strategy is also seen as an effort by the government to reduce its dependence on foreign oil.

India has been exploring various options to diversify its energy mix, including increasing investment in domestic oil and gas exploration.

While the proposal is still in its infancy, it highlights the growing importance of energy security for India’s economic growth and development.

The Indian government has not yet announced any concrete plans or timelines for implementing this policy, but officials have confirmed that discussions are underway.

Experts say that if implemented successfully, this approach could provide a significant boost to India’s energy security and reduce its vulnerability to global oil price fluctuations.