Government Strengthens Strategic Petroleum Reserves

21 Mar 2025 CW Team

Visakhapatnam – 1.33 MMT Mangaluru – 1.5 MMT Padur – 2.5 MMT

Expanding SPR Capacity To further strengthen energy resilience, in July 2021, the Government approved two additional SPR facilities with a total storage capacity of 6.5 MMT: ? Chandikhol, Odisha – 4 MMT ? Padur, Karnataka – 2.5 MMT

These facilities will be developed on a Public-Private Partnership (PPP) model, and the Government continues to evaluate new storage sites based on technical and commercial feasibility.

Diversifying Crude Supply Sources To reduce dependency on any single region, Indian Oil PSUs have diversified their crude basket, sourcing oil from: Middle East Africa North & South America

Additionally, LNG imports have been diversified, with Australia, USA, and UAE added as sourcing destinations. Several long-term agreements have also been signed to ensure uninterrupted LNG supply and protection from price volatility.

Promoting Clean Energy & Reducing Fossil Fuel Dependence The Government is aggressively promoting clean energy through a multi-pronged strategy that includes:

Transitioning to a Gas-Based Economy – Encouraging natural gas usage across industries. Alternative & Renewable Fuels – Boosting the adoption of ethanol, compressed biogas (CBG), biodiesel, green hydrogen, and EVs. Energy Efficiency & Conservation – Refinery process improvements and optimisation. Increasing Domestic Oil & Gas Production – Through policy reforms and incentives. Sustainable Alternative Towards Affordable Transportation (SATAT) – Promoting CBG as an automotive fuel. Ethanol & Biodiesel Blending Programmes – Expanding ethanol-blended petrol (EBP) and biodiesel-diesel blending initiatives.

This strategic approach is aimed at reducing India's dependence on imported fossil fuels while ensuring energy security, affordability, and sustainability.

This information was provided by Minister of State for Petroleum & Natural Gas, Shri Suresh Gopi, in a written reply in the Lok Sabh

In a major step towards bolstering India's energy security, the Government has established Strategic Petroleum Reserve (SPR) facilities through a Special Purpose Vehicle (SPV)—Indian Strategic Petroleum Reserve Limited (ISPRL). These reserves, with a total capacity of 5.33 Million Metric Tonnes (MMT) of crude oil, are strategically located at: Visakhapatnam – 1.33 MMT Mangaluru – 1.5 MMT Padur – 2.5 MMT Expanding SPR Capacity To further strengthen energy resilience, in July 2021, the Government approved two additional SPR facilities with a total storage capacity of 6.5 MMT: ? Chandikhol, Odisha – 4 MMT ? Padur, Karnataka – 2.5 MMT These facilities will be developed on a Public-Private Partnership (PPP) model, and the Government continues to evaluate new storage sites based on technical and commercial feasibility. Diversifying Crude Supply Sources To reduce dependency on any single region, Indian Oil PSUs have diversified their crude basket, sourcing oil from: Middle East Africa North & South America Additionally, LNG imports have been diversified, with Australia, USA, and UAE added as sourcing destinations. Several long-term agreements have also been signed to ensure uninterrupted LNG supply and protection from price volatility. Promoting Clean Energy & Reducing Fossil Fuel Dependence The Government is aggressively promoting clean energy through a multi-pronged strategy that includes: Transitioning to a Gas-Based Economy – Encouraging natural gas usage across industries. Alternative & Renewable Fuels – Boosting the adoption of ethanol, compressed biogas (CBG), biodiesel, green hydrogen, and EVs. Energy Efficiency & Conservation – Refinery process improvements and optimisation. Increasing Domestic Oil & Gas Production – Through policy reforms and incentives. Sustainable Alternative Towards Affordable Transportation (SATAT) – Promoting CBG as an automotive fuel. Ethanol & Biodiesel Blending Programmes – Expanding ethanol-blended petrol (EBP) and biodiesel-diesel blending initiatives. This strategic approach is aimed at reducing India's dependence on imported fossil fuels while ensuring energy security, affordability, and sustainability. This information was provided by Minister of State for Petroleum & Natural Gas, Shri Suresh Gopi, in a written reply in the Lok Sabh

Real Estate

02 Apr 2026

Indian real estate attracts USD 1.4 bn institutional investments in Q1 2026: Vestian

Institutional investments in India’s real estate sector touched USD 1.4 billion in Q1 2026, marking the highest first-quarter inflow since 2022, according to Vestian. While investments fell 62 per cent quarter-on-quarter due to an exceptionally high base in the previous quarter, they rose 74 per cent compared to the same period last year, reflecting sustained investor confidence despite rising geopolitical and macroeconomic challenges.Commercial real estate remained the key driver of investment activity during the quarter, accounting for 80 per cent of total inflows, sharply higher than 38 p..

Infrastructure Transport

02 Apr 2026

VECV crosses 1 lakh annual vehicle sales milestone in FY26

VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, has surpassed the 1 lakh annual sales mark in FY 2025–26, recording its highest-ever commercial vehicle sales performance. The company said it sold more than 100,000 vehicles during the year, marking a major milestone aligned with the original vision of the Volvo–Eicher joint venture.The strong performance was supported by demand across categories. Light and Medium Duty (LMD) trucks contributed 47,789 units, accounting for 46.1 per cent of total sales. Heavy Duty (HD) trucks recorded 26,867 units (25.9 pe..

Technology

02 Apr 2026

Rodic Digital & Advisory partners SatSure to deploy EO intelligence in public sector

Rodic Digital & Advisory (RDA), the strategic advisory and digital transformation arm of Rodic Consultants, has signed a strategic cooperation Memorandum of Understanding (MoU) with SatSure to jointly pursue opportunities in India’s public sector. The collaboration aims to integrate high-resolution Earth Observation (EO) data and geospatial AI into government workflows to strengthen monitoring, compliance, and operational decision-making across key sectors.The partnership combines SatSure’s Earth intelligence capabilities with RDA’s expertise in government digital transformation and ..