+
India Plans Three More Oil Reserves To Reach 90 Day Buffer
OIL & GAS

India Plans Three More Oil Reserves To Reach 90 Day Buffer

India, which imports more than 80 per cent of its crude, is mapping out three additional strategic petroleum reserves to lift its emergency stockpile to the 90 day level required for eventual membership of the International Energy Agency.

L. R. Jain, chief executive of Indian Strategic Petroleum Reserve Ltd, said Engineers India Ltd is carrying out feasibility studies for new depots at Bikaner in Rajasthan, Mangalore in Karnataka and Bina in Madhya Pradesh. Cabinet approval will be sought once the reports are complete.

The Bikaner project would use salt caverns to hold about 5.2–5.3 million tonnes of crude, while a new site at Mangalore is envisaged at 1.75 million tonnes. Capacity at Bina is still being finalised.

These proposals come on top of two federally cleared schemes: a 2.5 million tonne extension at Padur in Karnataka and a 4 million tonne facility at Chandikhol in Odisha. India already operates three reserves at Mangalore, Padur and Visakhapatnam with combined storage of 5.33 million tonnes, sufficient for roughly ten days of national demand.

“Building extra capacity means that, in any supply shock, we shall be better prepared,” Jain said, adding that rising domestic fuel consumption also warrants extra storage. Current commercial stocks and in transit supplies give the country cover for about 75 days.

India has reshaped its reserve policy to mirror models in Japan and South Korea, allowing private firms to lease space and trade stored crude, a move expected to attract oil majors and reduce the fiscal burden on the state. 

India, which imports more than 80 per cent of its crude, is mapping out three additional strategic petroleum reserves to lift its emergency stockpile to the 90 day level required for eventual membership of the International Energy Agency.L. R. Jain, chief executive of Indian Strategic Petroleum Reserve Ltd, said Engineers India Ltd is carrying out feasibility studies for new depots at Bikaner in Rajasthan, Mangalore in Karnataka and Bina in Madhya Pradesh. Cabinet approval will be sought once the reports are complete.The Bikaner project would use salt caverns to hold about 5.2–5.3 million tonnes of crude, while a new site at Mangalore is envisaged at 1.75 million tonnes. Capacity at Bina is still being finalised.These proposals come on top of two federally cleared schemes: a 2.5 million tonne extension at Padur in Karnataka and a 4 million tonne facility at Chandikhol in Odisha. India already operates three reserves at Mangalore, Padur and Visakhapatnam with combined storage of 5.33 million tonnes, sufficient for roughly ten days of national demand.“Building extra capacity means that, in any supply shock, we shall be better prepared,” Jain said, adding that rising domestic fuel consumption also warrants extra storage. Current commercial stocks and in transit supplies give the country cover for about 75 days.India has reshaped its reserve policy to mirror models in Japan and South Korea, allowing private firms to lease space and trade stored crude, a move expected to attract oil majors and reduce the fiscal burden on the state. 

Next Story
Real Estate

MoHUA Sanctions 1.47 Lakh Additional Houses Under PMAY-U 2.0

In a major push towards the Government’s Housing for All mission, the Ministry of Housing and Urban Affairs (MoHUA) has approved 1,46,582 additional pucca houses under Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0) for 14 States/UTs, bringing total sanctions under the revamped scheme to 8.56 lakh.The decision came during the fourth meeting of the Central Sanctioning and Monitoring Committee (CSMC), chaired by Srinivas Katikithala, Secretary, MoHUA, at the Ministry’s Kasturba Gandhi Marg office. Senior officials, State Principal Secretaries, and PMAY-U Mission Directors participated ..

Next Story
Real Estate

Piyush Goyal Inaugurates Expanded ISA Building at Intellectual Property Office

Union Minister of Commerce and Industry, Piyush Goyal, today inaugurated the newly expanded International Searching Authority (ISA) building at the Intellectual Property Office (IPO) in Dwarka, New Delhi, marking a major step forward in India’s intellectual property ecosystem.Addressing the gathering, Goyal highlighted that innovation has been central to India’s heritage for centuries, citing the engineering brilliance of the Konark Temple as a historic example. He emphasised that innovation is not just intellectual property but a symbol of sovereignty, and a key driver in India’s journe..

Next Story
Real Estate

SIEGER Boosts Automation in Mumbai Realty

SIEGER, a leading automation solutions provider, is expanding its advanced manufacturing capabilities to meet the surging demand for precision, high-speed automation in Mumbai’s rapidly growing real estate sector.Operating from a 21,000 m² advanced production hub in Coimbatore—part of a 40,000 m² integrated campus—SIEGER offers complete solutions from design and prototyping to manufacturing and deployment. The fully digitalised facility features CNC machining, QR-coded component tracking, conveyorized powder coating, and a Government of India–certified R&D centre, ensuring unmatc..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?