Type Storage facilities Key people Rajan K Pillai (CEO) Website www.isprlindia.com Date founded 2005 | Industry Petroleum Products Crude Oil Headquarters Noida Parent organization Indian Oil Corporation | |
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Owner Ministry of Petroleum and Natural Gas | ||
The Indian Strategic Petroleum Reserve (ISPR) is an emergency fuel store of total 5 MMT (million metric tons) or 36.92 MMbbl of strategic crude oil enough to provide 10 days of consumption which are maintained by the Indian Strategic Petroleum Reserves Limited.
Strategic crude oil storages are at 3 underground locations in Mangalore, Visakhapatnam and Padur(nr Udupi). All these are located on the east and west coasts of India which are readily accessible to the refineries. These strategic storages are in addition to the existing storages of crude oil and petroleum products with the oil companies and serve in response to external supply disruptions.
Expansion
In the 2017-18 budget speech by the Indian finance minister Arun Jaitley, it was announced that two more such caverns will be set up Chandikhole in Jajpur district of Odisha and Bikaner in Rajasthan as part of the second phase. This will take the strategic reserve capacity to 15.33 million tons. .
Apart from this,India is planning to expand more strategic crude oil facilities in second phase at Rajkot in Gujarat, Padur in and Udupi district of Karnataka.