Oil Reserves: It’s Time To Bring Our A-game


Oil Reserves: It’s Time To Bring Our A-game

The government’s recent approval to set up two more strategic petroleum reserves in the country deserves a thumbs-up. The proposed 4-million tonnes (mt) facility at Chandikhol in Orissa, and 2.5-mt facility at Padur in Karnataka, together, will more than double the country’s existing total capacity. Currently, there are underground caverns at Visakhapatnam in Andhra Pradesh (1.33 mt), and Mangaluru (1.5 mt) and Padur (2.5 mt) in Karnataka, totalling 5.33 mt. This will go a long way in boosting India’s energy security.

The existing facilities can meet about 10 days of India’s crude-oil requirement, and the new facilities can store an additional supply of about 12 days. Read More

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