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| Strategic Crude Oil Reserves, Indian Strategic Petroleum Reserve Limited, Image source: Jagran Josh |
NEW DELHI (LisbonTimes):- Indian Strategic
Petroleum Reserve Limited (ISPRL), a Government of India Special Purpose The vehicle has established Strategic Petroleum Reserves (SPR) facilities with the total capacity of 5.33 Million Metric Tonnes (MMT) at 3 locations, namely (i)
Vishakhapatnam, (ii) Mangaluru, and (iii) Padur. As per the consumption pattern
of 2019-20, the total capacity is estimated to provide for about 9.5 days of
crude oil requirement.
In addition, Oil
Marketing Companies (OMCs) in the country have storage facilities for crude oil
and petroleum products for 64.5 days, thus the current total national capacity
for storage of crude oil and petroleum products currently is 74 days.
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Taking advantage of low
crude oil prices in April/May 2020, the Strategic Petroleum Reserves have been
filled to full capacity, leading to notional savings of approximately INR 5000
crore.
Under Phase II of the
SPR Programme, the Government has given ‘in principle’ approval in June 2018
for establishing two additional SPR facilities with a total storage capacity of
6.5 MMT at two locations namely (i) Chandikhol in Odisha (4 MMT) and (ii) Padur
in Karnataka (2.5 MMT). As per the consumption pattern of 2019-20, 6.5 MMT SPR
capacity is estimated to provide for about additional 12 days of India’s crude
oil requirement.
This information was given by the Union Minister for Petroleum and Natural Gas Shri Dharmendra Pradhan in a written reply in the Rajya Sabha today.
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