Mumbai: The government has chalked out contingency plans in the wake of the US-led war on Iraq and contracted for crude oil supplies outside the war zone though stocks of petroleum products would last for two months, Union Petroleum and Natural Gas Minister Ram Naik said on March 20.

The government has since September "chalked out plans for increasing the stock of oil products and we have enough of petrol, diesel, ATF (Aviation Turbine Fuel), LPG and other products for next 60 days," Naik said at a hurriedly convened press conference following the US attack on Iraq early on March 20.

"In case of disruption, oil companies have contracted enough supplies outside the gulf region, which meets 65 per cent of our requirements," he said.

Besides, the agreement with Talisman Energy in Sudan, where ONGC Videsh Ltd has a 25 per cent stake, will help India get additional three million lakh tonnes of crude.

"Moreover, our present indigenous supplies can be increased if the conflict proceeds for a long time," the Minister added.

The state-owned oil companies have been also told to put off their planned maintenance shutdown of their refineries in view of the present crisis.

Asked whether the oil companies would raise the prices of petrol and diesel in line with increase in international crude prices, Naik said, "this will depend as crude oil prices of late have been volatile."

"It is temporary phenomenon as oil PSUs (Public Sector Undertakings) have been ensuring that the prices are maintained," he said.

PTI