Topic
oil storage
Commodities ONGC to Reserve Half of New Mangaluru Oil Storage for India's Strategic Petroleum Reserve
ONGC will reserve half of its planned 1.75 million-tonne Mangaluru oil storage facility for India's strategic petroleum reserve, junior minister Suresh Gopi told lawmakers. India's existing SPR of 5.33 million tonnes is run by ISPRL, and new facilities are planned at Chandikhol and Padur.
Commodities ONGC Board Approves 1.75 Million Tonne Strategic Oil Reserve at Mangaluru
State-run Oil and Natural Gas Corporation (ONGC) announced its board has granted in-principle approval for a 1.75 million tonne strategic petroleum reserve at Mangaluru, Karnataka. The facility, developed as Phase-I expansion of the existing reserve, aims to bolster India's energy security amid geopolitical uncertainty. India, the world's third-largest crude importer, relies on imports for over 88% of its crude requirements.
Commodities India and UAE to Expand Strategic Crude Oil Reserves
India and the UAE are collaborating to expand UAE-linked crude oil storage in India from 5.8 million barrels to 30 million barrels. This initiative involves new construction projects and potential storage at Mangalore, Visakhapatnam, and Chandikol.