Latest Organisation of the Petroleum Exporting Countries News & Updates

India’s Strategic Petroleum Reserves Can Cover 74 Days of Oil and Gas Needs

By

New Delhi, March 9 (IANS) India currently has a total capacity for storage of crude oil and petroleum products for 74 days, which can help to tide over disruptions in case of adverse situations such as geopolitical conflicts, the Parliament was informed on Monday.”The government has established Strategic Petroleum Reserves facilities with a total capacity of 5.33 million metric tonnes (MMT), which can act as a buffer for short-term supply shocks such as geopolitical conflicts. This is meant to p…