https://sputniknews.in/20260723/india-to-develop-phase-ii-strategic-petroleum-reserves-at-15-billion-11756036.html
India to Develop Phase-II Strategic Petroleum Reserves at $1.5 Billion
India to Develop Phase-II Strategic Petroleum Reserves at $1.5 Billion
Sputnik India
With the US war against Iran in the Gulf leading to the closure of the Strait of Hormuz, which has a bearing on India's crude imports, New Delhi is turning to... 23.07.2026, Sputnik India
2026-07-23T21:52+0530
2026-07-23T21:52+0530
2026-07-23T21:52+0530
business & economy
india
us
iran
oil supplies
strait of hormuz
government of india
lok sabha
karnataka
odisha
https://cdn1.img.sputniknews.in/img/07ea/06/11/11284359_0:98:2464:1484_1920x0_80_0_0_b5753ed64858ef0fae4d73efe9eb736a.jpg
India is moving ahead with its plans to build the next phase of its Strategic Petroleum Reserves (SPR) under a public-private partnership (PPP) model, with the project valued at $1.5 billion, the country's junior minister for petroleum and natural gas, Suresh Gopi, said on Thursday.The Phase-II expansion of SPR will add 6.5 million tonnes to the country's existing capacity, which currently stands at 5.33 million tonnes. The two facilities are being built at Chandikhal (4 million tonnes) in the eastern state of Odisha and Padur (2.5 million tonnes) in Karnataka.Additionally, the country's Petroleum Ministry is assessing other sites to set up new SPR units, the minister added.Presently, the public sector firm Indian Strategic Petroleum Reserve Ltd. (ISPRL) manages underground storage caverns of India's SPR, which were commissioned between 2016 and 2018. Of the total 5.33 million tonnes of capacity, Padur holds 2.5 million tonnes, while Mangaluru and Visakhapatnam's facilities store 1.5 million tonnes and 1.33 million tonnes, respectively.
https://sputniknews.in/20260713/indias-strategic-energy-shield-should-cover-lng--lpg-energy-expert-11629791.html
india
us
iran
strait of hormuz
karnataka
odisha
Sputnik India
feedback.hindi@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
2026
Pawan Atri
https://cdn1.img.sputniknews.in/img/07e6/0c/13/139630_147:0:831:684_100x100_80_0_0_8fa2b25903e7787fe6a2698552c167df.png
Pawan Atri
https://cdn1.img.sputniknews.in/img/07e6/0c/13/139630_147:0:831:684_100x100_80_0_0_8fa2b25903e7787fe6a2698552c167df.png
News
en_IN
Sputnik India
feedback.hindi@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Sputnik India
feedback.hindi@sputniknews.com
+74956456601
MIA „Rossiya Segodnya“
Pawan Atri
https://cdn1.img.sputniknews.in/img/07e6/0c/13/139630_147:0:831:684_100x100_80_0_0_8fa2b25903e7787fe6a2698552c167df.png
india, us, iran, oil supplies, strait of hormuz, government of india, lok sabha, karnataka, odisha
india, us, iran, oil supplies, strait of hormuz, government of india, lok sabha, karnataka, odisha
India to Develop Phase-II Strategic Petroleum Reserves at $1.5 Billion
With the US war against Iran in the Gulf leading to the closure of the Strait of Hormuz, which has a bearing on India's crude imports, New Delhi is turning to expanding its strategic oil reserves.
India is moving ahead with its plans to build the next phase of its Strategic Petroleum Reserves (SPR) under a public-private partnership (PPP) model, with the project valued at $1.5 billion, the country's junior minister for petroleum and natural gas, Suresh Gopi, said on Thursday.
"No government budgetary support was provided for the development and construction of SPR facilities under Phase I. For the development of SPR facilities under Phase II, a public-private partnership model is envisaged with a total project cost of $1.5 billion with the viability gap funding (VGF) by the government capped at 60 percent of the total project cost," he said in reply to a question in the Lok Sabha, the lower house of the nation's parliament.
The Phase-II expansion of SPR will add 6.5 million tonnes to the country's existing capacity, which currently stands at 5.33 million tonnes. The two facilities are being built at Chandikhal (4 million tonnes) in the eastern state of Odisha and Padur (2.5 million tonnes) in Karnataka.
Additionally, the country's Petroleum Ministry is assessing
other sites to set up new SPR units, the minister added.
Presently, the public sector firm Indian Strategic Petroleum Reserve Ltd. (ISPRL) manages underground storage caverns of India's SPR, which were commissioned between 2016 and 2018.
Of the total 5.33 million tonnes of capacity, Padur holds 2.5 million tonnes, while Mangaluru and Visakhapatnam's facilities store 1.5 million tonnes and 1.33 million tonnes, respectively.
