Saudi Aramco, the worlds largest oil producer, is interested in picking a stake in Indias biggest oil refinery being planned to be set up in Maharashtra at a cost of Rs 1.8 lakh crore
Minister of State (I/C) Petroleum & Natural Gas Sh Dharmendra Pradhan met the newly appointed US Energy Secretary Mr Rick Perry in Washington today .
In direction of boosting India’s energy safety, on Monday Union cabinet did approval for passing of an agreement that will see crude oil for planned storage movement in from Abu Dhabi
PM Modi government’s strategic oil reserve move: 5 things you need to know about the pact between India and UAE
PM Narendra Modi-led Union Cabinet has cleared numerous pacts including a Definitive Agreement on Oil Storage and Management between ISPRL and ADNOC of UAE
The Union Cabinet chaired by the Prime Minister Narendra Modi has given its ex-post facto approval for signing of the Definitive Agreement on Oil Storage and Management between Indian Strategic Petroleum Reserve Ltd (ISPRL) and Abu Dhabi National Oil Company (ADNOC) of UAE.
Every country needs a strategic fuel reserve to tide over conflict, natural disaster or a potential economic blockade. India is well on its way to doing the same
Minister of State for Petroleum & Natural Gas Dharmendra Pradhan informed the Rajya Sabha in a written reply to a question yesterday that Strategic Petroleum Reserve (SPR) facilities set up at Visakhapatnam
The two new strategic oil facilities announced at Odisha and Rajasthan are in addition to the three facilities that already exist in the country as underground storages in rock caverns at Visakhapatnam (1.33 million tonnes), Mangalore (1.5 MT) and Padur (2.5 MT).
Union petroleum minister Dharmendra Pradhan said the move to create two new strategic oil storage will enhance India’s energy security “taking our strategic reserve capacity to 15.33 MMT.” This, he said, will increase India’s oil storage capacity to meet the consumption requirement of about 90 days which is at par with the international benchmarks.
The pact assumes immense significance for an oil importing nation like India and one that feeds 80% of its crude oil needs through imports. The underground strategic storages have been built at different locations across India and filling half of the oil storage facility at Mangalore amounts to 10 days of India's average oil demand (or about 37 million barrels of crude oil).
In what will help towards India’s energy security goals besides building a strong bond with the United Arab Emirates (UAE), India on Wednesday inked a significant pact with the energy rich Gulf nation on oil storage and management.
India’s Minister of State (I/C) for Petroleum and Natural Gas, Dharmendra Pradhan currently on a three day visit to Iran and UAE (from 9-12 April 2016) is looking at enhancing.