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Strategic Oil Reserve

Govt to provide $647 mn to support strategic reserve oil purchases in FY26

The budget proposals also include an allocation of about Rs 180 crore for operation and maintenance of the SPRs and about Rs 335 crore for purchase of land and construction of new caverns

Govt to provide $647 mn to support strategic reserve oil purchases in FY26
Updated On : 01 Feb 2025 | 3:47 PM IST

India plans strategic reserves by storing gas in depleted wells: GAIL

The strategic facilities would be built in phases in India's western and northeastern regions with an initial capacity to store three to four billion cubic meters (bcm) of gas

India plans strategic reserves by storing gas in depleted wells: GAIL
Updated On : 24 Nov 2023 | 3:49 PM IST

Govt wants Saudi Aramco to develop strategic petroleum reserve: Report

India, the world's third-biggest oil importer and consumer, imports over 80% of its oil needs and has built strategic storage at three locations in southern India

Govt wants Saudi Aramco to develop strategic petroleum reserve: Report
Updated On : 11 Oct 2023 | 3:47 PM IST

India plans to set up strategic gas reserve amid global energy crisis

Amid a deepening global energy crisis, India is planning to set up a strategic gas reserve on the lines of its strategic petroleum reserve (SPR)

India plans to set up strategic gas reserve amid global energy crisis
Updated On : 22 Sep 2022 | 1:31 PM IST

SPR release may only have a $2 impact on crude price, say experts

There'll be no gain in the long term since US stocks have to be replenished next year

SPR release may only have a $2 impact on crude price, say experts
Updated On : 26 Nov 2021 | 6:04 AM IST

US marshals other nations, challenges OPEC+ with release of oil reserves

WASHINGTON (Reuters) - The administration of U.S. President Joe Biden announced on Tuesday it will release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain, to try to cool prices after OPEC+ producers repeatedly ignored calls for more crude.

US marshals other nations, challenges OPEC+ with release of oil reserves
Updated On : 24 Nov 2021 | 7:25 AM IST

Goldman Sachs says global oil reserves release 'a drop in the ocean'

Global oil prices rebounded to a one-week high on Tuesday after the move by the United States and other consumer nations to release oil from strategic petroleum reserves

Goldman Sachs says global oil reserves release 'a drop in the ocean'
Updated On : 24 Nov 2021 | 7:22 AM IST

US asks India, China, others to consider tapping oil reserves: Report

The unusual request is meant to be a coordinated effort to lower global energy prices and reflects US frustration with OPEC and its allies.

US asks India, China, others to consider tapping oil reserves: Report
Updated On : 18 Nov 2021 | 9:39 AM IST

Power Secretary stresses on fuel reserves to deal with supply shocks

Union Power Secretary Alok Kumar on Thursday stressed on the need to have strategic fuel reserves to insulate the nation from supply shocks for at least a month

Power Secretary stresses on fuel reserves to deal with supply shocks
Updated On : 21 Oct 2021 | 2:07 PM IST

Oil prices ease as US mulls strategic reserve sales

Oil prices extended losses from the previous session on Thursday, as the United States said it was considering selling oil from its strategic reserves

Oil prices ease as US mulls strategic reserve sales
Updated On : 07 Oct 2021 | 7:24 PM IST

Next oil reserves plan by Sept, to see Rs 14K-crore investment: ISPRL

Request for proposal document awaiting Centre's nod

Next oil reserves plan by Sept, to see Rs 14K-crore investment: ISPRL
Updated On : 31 May 2021 | 6:10 AM IST

How Covid-19 spoilt the oil bonanza

Conventional wisdom is that when crude oil prices drop, India benefits as it is dependent on imported oil to the tune of about 85 per cent of its total consumption

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Updated On : 22 Apr 2020 | 12:35 AM IST

Never waste a crisis

The government should go for deep structural reforms

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Updated On : 14 Apr 2020 | 11:10 PM IST

India to top up strategic oil reserve with Rs 5,000 cr buy as prices drop

Global crude oil fell about 40% in March (to about $25 a barrel now) so far after talks of production cut between the OPEC and Russia failed.

India to top up strategic oil reserve with Rs 5,000 cr buy as prices drop
Updated On : 20 Mar 2020 | 2:15 PM IST

Aramco, Adnoc interested in India's Rs 110-bn strategic oil reserve project

Govt also in talks with Indian private players Reliance Industries and Nayara Energy to pick up stake in the project

Aramco, Adnoc interested in India's Rs 110-bn strategic oil reserve project
Updated On : 17 Oct 2018 | 8:50 PM IST