๐ฆ๐๐ฟ๐ฎ๐๐ฒ๐ด๐ถ๐ฐ ๐๐ฟ๐๐ฑ๐ฒ ๐ข๐ถ๐น ๐ฅ๐ฒ๐๐ฒ๐ฟ๐๐ฒ๐
“๐ฌ๐ฐ๐ณ ๐๐๐๐ ๐๐๐๐ ๐๐๐๐๐๐ ๐๐๐๐๐ ๐๐๐๐ ๐ ๐๐๐๐๐๐๐ ๐๐๐๐๐๐๐ ๐๐ ๐น๐๐๐๐๐๐๐๐”
๐ช๐ต๐ฎ๐ ๐ฎ๐ฟ๐ฒ ๐ฆ๐๐ฟ๐ฎ๐๐ฒ๐ด๐ถ๐ฐ ๐ฃ๐ฒ๐๐ฟ๐ผ๐น๐ฒ๐๐บ ๐ฅ๐ฒ๐๐ฒ๐ฟ๐๐ฒ๐
Strategic petroleum reserves areย huge stockpiles of crude oil to deal with any crude oil-related crisisย like the risk of supply disruption from natural disasters, war or other calamities.
These are underground caverns where crude oil can be stored.
According to the agreement on an International Energy Programm (I.E.P.), eachย International Energy Agency (IEA)ย country has an obligation to hold emergencyย oil stocks equivalent to at least 90 days of net oil imports.
In case of a severe oil supply disruption, IEA members may decide to release these stocks to the market as part of a collective action.
๐ฆ๐๐ฟ๐ฎ๐๐ฒ๐ด๐ถ๐ฐ ๐ฃ๐ฒ๐๐ฟ๐ผ๐น๐ฒ๐๐บ ๐ฅ๐ฒ๐๐ฒ๐ฟ๐๐ฒ๐ ๐ถ๐ป ๐๐ป๐ฑ๐ถ๐ฎ:
The construction of the Strategic Crude Oil Storage facilities in India is being managed byย Indian Strategic Petroleum Reserves Limited (ISPRL).
ISPRL is a wholly owned subsidiary of Oil Industry Development Board (OIDB) under the Ministry of Petroleum & Natural Gas.
๐ฃ๐ต๐ฎ๐๐ฒ ๐
India’s Strategic crude oil storages are
๐ธMangaloreย (Karnataka)
๐ธVisakhapatnamย (Andhra Pradesh)
๐ธPadurย (Karnataka)
They have fuel storage of total 5. 33 MMT (Million Metric Tonnes).
๐ฃ๐ต๐ฎ๐๐ฒ ๐๐ ๐ถ๐ ๐ฝ๐น๐ฎ๐ป๐ป๐ฒ๐ฑ ๐ณ๐ผ๐ฟ
๐ธChandikholย (Odisha)
๐ธUdupiย (Karnataka)
This will give an additional 6.5 million tons of the oil reserves.
After the new facilities get functional,ย a total of 22 days (10+12)ย of oil consumption will be made available.
With the strategic facilities, Indian refinersย also maintain crude oil storage (industrial stock) of 65 days.
Thus,ย approximately a total of 87 daysย (22 by strategic reserves + 65 by Indian refiners) of oil consumption will be made available in India after completion of Phase II of the SPR program.
This will be very close to the 90 days mandate by the IEA.
India became an associate member of the IEAย in 2017.
