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India continues developing its strategic petroleum reserve as its oil imports grow

Oil
 

In response to India’s increasing reliance on petroleum imports, India plans to bring online the country’s first strategic petroleum reserve (SPR). The first phase of India’s SPR includes three locations (Visakhapatnam, Mangalore, and Padur) in southern India with a combined capacity of 39.1 million barrels of crude oil. The Visakhapatnam facility on the eastern coast began filling its underground caverns last summer. The Mangalore and Padur facilities are expected to be completed in late 2016, according to FGE. Once filled, these three facilities would provide an estimated 13 days of net oil import coverage, based on 2015 consumption and production data.

 

 

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