Strategic Petroleum Reserve (India)
Indian Strategic Petroleum Reserves Limited (ISPRL)
- Indian Strategic Petroleum Reserves Limited (ISPRL) is responsible for maintaining India's strategic petroleum reserves.
- It is a wholly owned subsidiary of the Oil Industry Development Board (OIDB).
- Functions under the Ministry of Petroleum and Natural Gas.
Current Storage Capacity:
- ISPRL maintains an emergency fuel store of 5.33 million metric tons (MMT) or 36.92 million barrels.
- This storage capacity provides 9.5 days of consumption.
The storage facilities are located in three underground locations:
- Mangalore, Karnataka
- Visakhapatnam, Andhra Pradesh
- Padur (Udupi), Karnataka
Overall Oil Storage:
- Indian refiners maintain 64.5 days of crude storage.
- Combined with ISPRL’s strategic reserves, India has a total of 74 days of reserve oil storage.
Historical Background:
- In 1998, the Vajpayee administration proposed building petroleum reserves as a long-term solution.
- The first phase of construction created 5.33 MMT of storage capacity at a cost of $600 million.
Expansion Plans:
- The 2017-18 budget announced the construction of two additional storage facilities:
- Chandikhole, Odisha
- Bikaner, Rajasthan
- In June 2018, the Modi administration approved:
- A new storage facility in Chandikhole .
- Doubling the capacity at Padur, Karnataka .
Biggest Global Strategic Petroleum Reserves in the World:
- United States- 714 million barrels
- China- 475 million barrels
- Japan- 324 million barrels
Sources:
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