Gaurav Choudhury, Deputy Executive Editor, Moneycontrol helps us understand the importance and the need of increasing the number of SPRs.
India will soon have the capacity to store crude oil to meet 90 days of requirements in case of an emergency.
India currently has built capacity that can store about 9-9.5 days of crude oil requirements. As of now, there are about 20 million barrels of crude stored in three strategic petroleum reserves (SPRs) in Visakhapatnam in Andhra Pradesh, Manguluru and Padur, both in Karnataka.
Indian Strategic Petroleum Reserves (ISPRL), a special purpose vehicle (SPV), has constructed and commissioned these SPRs.