Energy & Petrochemicals #energy security#middle east crisis
Energy security during Middle East crisis: Why India keeps relying on state-run oil firms despite privatisation bids
India's state-run oil marketing companies (OMCs) — IOC, BPCL, and HPCL — played a critical role in maintaining fuel supplies during the Middle East conflict, absorbing a 50% surge in global crude prices and preventing rationing. The crisis reinforced the strategic importance of these firms, which had twice been slated for privatisation, as they leveraged strategic reserves, reconfigured refineries, and coordinated logistics to shield consumers.
Jun 28, 2026 1 source