Why India is building huge caves to store oil

Why India is building huge caves to store oil

India’s expanding its oil stocks to avoid external price and supply shocks in the future. On June 27, the Narendra Modi government announced a plan to build two new caves full of strategic petroleum reserves (SPRs) to maintain the country’s supplies for up to 12 days during exigencies.

Could India upend the World Bank’s cosy energy consensus?

Could India upend the World Bank’s cosy energy consensus?

The International Monetary Fund (IMF), and World Bank held their annual spring meetings in Washington DC last week. The issues facing emerging economies figured front and centre—even if much of the outside commentary focused on the fate of global trade.

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