India plans large oil reserves in Bikaner and Bina
India is planning to set up big new oil storage sites in Bikaner (Rajasthan) and Bina (Madhya Pradesh) to help protect against global supply shocks.
Since the country imports 90% of its oil, even a small price jump can seriously impact costs: just a $1 increase adds ₹18,000 crore to the annual bill.
The government says these new reserves will make sure we have backup if imports ever get disrupted.
India's strategic reserves average 77 days
Right now, India usually maintains stocks for about 77 days. The strategic crude storage capacity is spread across places like Vishakhapatnam, Mangaluru, and Padur.
The expansion projects are underway in Odisha and Karnataka. The parliamentary committee says hitting the global standard of 90 days would make us safer from sudden shortages, and these new projects are a step toward that goal.