Strategic Petroleum Reserve (India)
Special-purpose vehicle | |
Industry | Petroleum |
---|---|
Founded | 2005[1] |
Founder | Ministry of Petroleum and Natural Gas |
Headquarters | OIDB Bhawan, Sector-73, , India[2] |
Number of locations | 4 (2020) |
Area served | India |
Key people | HPS Ahuja (CEO & MD) |
Services | Oil storage facilities |
Owner | Oil Industry Development Board (OIDB) |
Website | www |
Indian Strategic Petroleum Reserves Limited (ISPRL) is an Indian company responsible for maintaining the country's strategic petroleum reserves. ISPRL is a wholly owned subsidiary of the Oil Industry Development Board (OIDB), which functions under the administrative control of the Ministry of Petroleum and Natural Gas.
ISPRL maintains an emergency fuel store of total 5.33 MMT (million metric tons) or 36.92 million
Indian refiners maintain 64.5 days of crude storage, so India has overall reserve oil storage of 74 days.[7]
History
The
In the 2017-18 budget speech by the Indian finance minister Arun Jaitley, it was announced that two more such caverns will be set up Chandikhole, Odisha and Bikaner in Rajasthan as part of the second phase. [10] In June 2018, the Narendra Modi administration approved the construction of a new storage facility in Chandikhole and doubling the capacity at Padur. This would raise India's strategic reserve capacity to 11.83 million tonnes.[8]
Apart from this, India is planning to expand more strategic crude oil facilities in second phase at Rajkot in Gujarat.[3]
Storage capacity
Sr. No. | Location | Capacity (Million Metric Tonnes) | |
---|---|---|---|
Commissioned | Planned | ||
1 | Visakhapatnam, Andhra Pradesh | 1.33 | - |
2 | Mangalore, Karnataka | 1.5 | - |
3 | Padur , Karnataka |
2.5 | 2.5 |
4 | Chandikhole, Odisha | - | 4[9] |
TOTAL | 5.33 | 6.5 |
See also
External links
References
- ^ "India wants to add UAE, Saudi oil for strategic reserve". Reuters. 21 September 2016. Retrieved 15 March 2019.
- ^ "Contact us". Indian Strategic Petroleum Reserves Limited. Retrieved 15 March 2019.
- ^ a b "Store Our Oil And Take Two-Thirds For Free: UAE's Offer to India". NDTV. Retrieved 10 February 2016.
- ^ Singh, Sudheer Pal (23 December 2015). "Filling of strategic oil reserves delayed". Business Standard India. Retrieved 23 December 2015.
- ^ Alexander's Gas & Oil Connections - India to build up storage of crude oil Archived 2009-04-18 at the Wayback Machine
- ^ "Indian Strategic Petroleum Reserves Limited". Retrieved 29 January 2016.
- ^ "India to leverage low prices to fill strategic crude oil reserves". 17 March 2020.
- ^ a b "Why India is storing crude oil in underground caves, and who came up with the idea". The Financial Express. 29 June 2018. Retrieved 30 March 2020.
- ^ a b Bhaskar, Utpal (17 March 2020). "India to leverage low prices to fill strategic crude oil reserves". Livemint. Retrieved 30 March 2020.
- ^ "Government to build 2 crude oil storages in Odisha, Rajasthan". Economic Times. Retrieved 2 January 2016.