India to have private strategic petroleum reserve
India is stepping up its energy game by letting Megha Engineering & Infrastructures Ltd (MEIL) build the country's first-ever private Strategic Petroleum Reserve (SPR) in Padur, Karnataka.
This new site will store 2.5 million metric tons of crude oil and is part of phase II of India's SPR program, which already manages 5.33 million metric tons.
The move is all about making sure the country has backup fuel during emergencies.
Government support and international partnerships on the horizon
The government is backing MEIL with approvals and support, while public sector oil companies like Indian Oil and Bharat Petroleum will need to link Padur into their systems.
If there's ever a crisis, the government gets first access to this stockpile.
Looking ahead, India plans more reserves—including a big one in Chandikhol, Odisha—and is seeking partnerships with global oil producers like Saudi Aramco to help fill these tanks sustainably.
So far, only Abu Dhabi National Oil Co. (Adnoc) has committed to the program.