ONGC reserves half of Mangaluru storage for strategic petroleum reserves
Business
ONGC is reserving 50% of its new oil storage facility in Mangaluru, Karnataka (about 13 million barrels) for India's strategic petroleum reserves.
Announced by junior oil minister Suresh Gopi, this move puts the facility in the same city as ONGC's big refinery run by MRPL, making it a key spot for backup energy.
India covers 74 days with reserves
By boosting its reserve capacity, India aims to be ready if global oil supplies ever get shaky.
Right now, the country can cover 74 days of net crude import needs with crude oil and petroleum products thanks to these reserves and extra tanks.
Plans are already underway to add more storage in Odisha and Padur with help from private partners, so India's energy safety net keeps getting stronger.