The Indian government will increase the strategic oil reserve from 5.33 million tons to 11.83 million tons.

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The government has approved the establishment of two additional commercial and strategic oil reserve facilities.

I've found that Suresh Gopi, Minister of State of the Ministry of Petroleum and Natural gaseous, said in a written reply to the Wolesi Jirga that in order to increase the Strategic Petroleum Reserve (SPR), the Government of India approved the establishment of two additional commercial and strategic petroleum reserve facilities in Chandihor (Chandikhol)(4 million tons) in Orissa and Padur ( 2. But 5 million tons) in Karnataka in July 2021, the total storage capacity is 6. 5 million tons. The Government of India, through a special purpose company called the Strategic Petroleum Reserve of India Limited (ISPRL), has established SPR facilities at three locations, Visakatnam ( 1. And 33 million tons), Mangalore ( 1. And From what I've seen, 5 million tons) and Padur ( 2. 5 million tons), with a total capacity of 5. 33 million metric tons of crude oil. Suresh Gopi added that India's SPR will increase from 5. From what I've seen, 33 million tonnes to 11. And 83 million tonnes once it's operational. From time to time, the Government and the OMC assess the possibility of growing storage capacity based on technical and commercial feasibility. Pretty interesting, huh?. According to research The assessment of new sites to the establishment of additional oil reserves is an ongoing process. Based on my observations, In order to ensure the security of crude oil supply and minimize the risk of application on crude oil from a single region, Indian oil general sector companies (PSUs) have diversified their crude oil sources, purchasing crude oil from countries with different geographical locations such as the Middle East, Africa, North America and South America. And In addition, the Indian government has diversified LNG imports by targeting Australia, the United States and the United Arab Emirates as LNG importers. Furthermore India has also signed a number of prolonged agreements to LNG purchases to ensure uninterrupted supply and prevent price evaporative environment.

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