Business Standard

Sunday, December 22, 2024 | 03:57 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

India opens Padur strategic reserves for foreign 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

oil, fuel
Premium

For every $1 increase in crude oil prices, the impact on the current account deficit (CAD) is likely to be $1 billion

Shine Jacob New Delhi
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

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in