Budget Session: Congress MP KC Venugopal seeks discussion on "energy security" amid West Asia conflict

New Delhi [India], March 9 (ANI): Congress MP KC Venugopal on Monday submitted an Adjournment Motion notice in the Lok Sabha, seeking an urgent discussion on the "rapidly evolving situation in West Asia" and its direct impact on India's energy security.
Venugopal emphasised that the escalating tensions in West Asia pose immediate challenges to India's energy supply chains, interests and citizens' safety.
In his Adjournment Motion notice, the MP wrote, "The country is presently confronted with serious and emerging challenges relating to energy security due to the rapidly evolving situation in West Asia. These developments have significant implications for India's economy, strategic interests, and the welfare of its citizens abroad. The matter therefore deserves urgent consideration by the House."
He further added that India imports about 55% of its crude oil requirements from countries in West Asia, with more than half of the country's oil supplies originating from the region. "Any disruption arising from geopolitical instability or conflict in this area can directly affect India's energy security, fuel availability, and overall economic stability," the notice stated.
Highlighting that nearly 1 crore Indian citizens reside and work across the Gulf and wider West Asia regions, he asserted that their safety is dependent upon the stability in the region.
Referring to the Ministry of External Affairs statement on March 3, Venugopal noted that indian nationals and students are experiencing extreme difficulties due to the volatile situation.
"Some Indian nationals have reportedly lost their lives or are missing due to the ongoing crisis. Reports of Indian students and workers seeking urgent assistance underline the human dimension of the unfolding situation," he wrote in the notice.
"Any prolonged instability in the region may adversely affect employment opportunities for Indian workers and the flow of remittances. The consequences of these developments are already being felt domestically," he added, using the recent LPG cylinder price hike by Rs 60 as an example of "how geopolitical instability in energy-producing regions quickly translates into economic pressure on citizens."
West Asia is currently engulfed in a high-intensity, multi-front conflict involving Iran, Israel, and the United States. The crisis escalated following coordinated US-Israeli strikes on Iran, which reportedly resulted in the death of Iran's Supreme Leader, Ayatollah Ali Khamenei. The developments have significantly raised fears of supply disruptions in global oil markets.
EAM S Jaishankar is scheduled to deliver a statement regarding the 'Situation in West Asia' in the Lok Sabha as the second phase of the Budget Session of Parliament will begin today.
Congress MP Manickam Tagore B on Monday criticised the Centre for scheduling a parliamentary statement by External Affairs Minister S Jaishankar on the conflict in West Asia, rather than a discussion in the Lok Sabha.
Meanwhile, India currently maintains a combined energy buffer of over 250 million barrels of crude oil and refined petroleum products, equivalent to approximately 4,000 crore litres, according to a government report. This stockpile provides seven to eight weeks of coverage across the full supply chain, countering claims that the country holds only 25 days of reserves. The reserves are distributed across underground strategic caverns in Mangalore, Padur, and Visakhapatnam, as well as above-ground tanks, pipelines, and offshore vessels. (ANI)