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Kokel, Nicolas

2024/04/11 11:19 AM

🇮🇳 India Initiates Construction of First Commercial Strategic Crude Oil Storage Facility

The government's strategic petroleum reserves development and operation company, Indian Strategic Petroleum Reserves Ltd (ISPRL), has announced plans to establish India's inaugural commercial strategic crude oil storage facility.

Until now, India has limited commercial utilization of its three existing strategic oil storage facilities, boasting a collective capacity of 36.7 million barrels.

In pursuit of this initiative, ISPRL has released a tender for the development of a 2.5 million-ton underground storage facility in Padur, located in the state of Karnataka.

#india #strategicpetroleumreserves #crueoilstorage