Strategic Crude Oil Reserves in India
By PIB Delhi
Indian Strategic Petroleum Reserve Limited (ISPRL), a Government of India Special Purpose Vehicle, has established Strategic Petroleum Reserves (SPR) facilities with 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.
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 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.
