Energy & Petrochemicals #india#strategic oil reserves
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.
Jul 10, 2026 1 source