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Indian Strategic Petroleum Reserve Limited

 

Government of India through Indian Strategic Petroleum Reserve Ltd. (ISPRL) under Phase –1 has setup Strategic Petroleum Reserves (SPR) at three locations with a capacity of 5.33 MMT located at Vishakhapatnam (1.33 MMT), Mangalore (1.50 MMT) and Padur (2.5 MMT)which can be used in emergencies particularly from serious disruptions in global crude oil supply chain. These three SPRs can meet approximately 9.5 days of national demand.

As part of the efforts of the GoI to commercialize the Phase-I of Strategic Petroleum Reserves, Abu Dhabi National oil Company (ADNOC) , National Oil Company from UAE, joined the SPR programme. The agreement was implemented with ADNOC storing about 0.8 MMT of crude oil in Mangalore.

Taking advantage of low crude oil prices in April and May 2020, Ministry took rapid action in filling these reserves completely, leading to a saving of INR 5000 crore for the Government. India’s traditional suppliers like UAE and Saudi Arabia were helpful in providing additional quantities of crude oil for filling in the SPRs.

The country’s strategic oil stockpile will boost India’s energy security.The Union Cabinet have given “In Principle approval for establishing 6.5MMT Strategic Petroleum Reserves at two locations Chandikhol (4 MMT) in Odisha and at Padur (2.5 MMT) Karnataka including dedicated SPM’s for the two SPR’s. The ‘In Principal’ approval is to take up the project under PPP model to reduce budgetary support of Government of India.

Phase 1

ISPRL constructed underground rock caverns for storage of 5.33 MMT of crude oil at three locations, viz.
  • Vishakhapatnam (1.33MMT) – Filled under GBS Mangalore (1.50 MMT) - One Cavern with GBS - Second Cavern of 0.75 MMT filled by ADNOC under PPP model Padur (2.5 MMT) – Commissioned (MoU Signed with ADNOC and Saudi Aramco to explore filling of the SPRs)
  • Current capacity can supply for around 9.5 days of our requirement
  • India took advantage of global low crude oil price in April & May 2020, Ministry took rapid action in filling these reserves completely, leading to a saving of INR 5000 crore for the Government.

Phase 2

  • Government has given in-principle approval for construction of additional SPR facilities at two locations (Chandikhol 4 MMT and Padur 2.5 MMT)
  • PPP model is being explored for creating commercial-cum-strategic reserve
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