India Orders Major Strategic Oil Reserve Expansion After Supply Crisis

India Taps ONGC To Build $1.6 Billion Strategic Oil Reserve As Supply Crisis Exposes Energy Vulnerability

India has directed state-owned Oil and Natural Gas Corp (OTC: ONGCY) to construct a new strategic petroleum reserve facility in Mangaluru, expanding the country’s emergency crude storage capacity by roughly one-third. The government’s decision follows a severe oil supply crisis triggered by the Iran war, which left India grappling with a soaring energy import bill and sharply rising domestic fuel prices. The new storage site carries an estimated…

India Plans Oil Reserve Expansion After Iran-US War: How Much Will the New Mangaluru Strategic Oil Buffer Add?

India consumes about 5.5–5.7 million barrels of oil per day (roughly 875,000–910,000 tonnes), and the contradicting reserve figures come from measuring different things:

India Orders Major Strategic Oil Reserve Expansion After Supply Crisis

India’s government has asked state-owned Oil and Natural Gas Corp (ONGC) to build and fill a new site for strategic petroleum reserves, with an estimated investment of $1.6 billion, local outlet the Economic Times reported on Friday, quoting sources with knowledge of the plans. The government is looking to boost India’s energy security in the wake of the Iran war and the following oil supply crisis that India felt firsthand, with a soaring energ…

ONGC To Develop New Strategic Petroleum Reserve In Mangaluru

The Government of India has entrusted the Oil and Natural Gas Corporation (ONGC) with the development of a new Strategic Petroleum Reserve (SPR) facility in Mangaluru, Karnataka. The proposed underground crude oil storage cavern is expected to cost around ₹15,000 crore and will add 1.75 million metric tonnes (MMT) to India’s strategic crude oil storage capacity. Strengthening India’s Energy Security Strategic Petroleum Reserves are emergency sto…

India Orders Major Strategic Oil Reserve Upgrade - Energy News Beat

In a decisive move to strengthen its energy security amid recent global supply disruptions, the Indian government has directed state-owned Oil and Natural Gas Corporation (ONGC) to construct and fill a new underground strategic petroleum reserve (SPR) cavern at Mangaluru in Karnataka. The project, estimated at around $1.6 billion, will add 1.75 million metric tons (MMT) of crude oil storage capacity—roughly a one-third increase to India’s existi…

Centre Directs ONGC to Build ₹15,000 Crore Strategic Oil Reserve in Mangaluru Amid Global Energy Uncertainty

Mangaluru, June 19: The Central Government has reportedly directed to develop a new Strategic Petroleum Reserve (SPR) facility in Mangaluru as part of efforts to strengthen India’s energy security amid ongoing geopolitical uncertainties following the Iran conflict. The proposed project, estimated to cost around ₹15,000 crore, will include an underground crude oil storage cavern with a capacity of 1.75 million metric tonnes (MMT). Once completed,…