After Abu Dhabi National Oil Corporation (Adnoc) started storing crude oil at Mangalore strategic reserves recently, the Union Cabinet on Thursday approved the filling of Padur strategic petroleum reserves (SPR) in Karnataka too by overseas national oil companies.
The SPR facility at Padur is an underground rock cavern with a total capacity of 2.5 million tonnes (MT) having four compartments of 0.625 MT each. The filling of the SPR under public private partnership model is being undertaken to reduce budgetary support of Government of India.
The Indian Strategic Petroleum Reserves (ISPRL), a special purpose vehicle, has so far constructed and