Indin's first strategic crude oil storage by October 2011
at Saturday, April 17, 2010
Strategic oil reserve by 2011
India will complete building its first strategic crude oil storage by
October 2011 in an effort to insulate itself from supply disruptions.
India, which is 75% import dependent to meet its crude oil needs, is
building underground storages at Visakhapatnam in Andhra Pradesh and
Mangalore and Padur in Karnataka to store about 5.33 million tonnes of
crude oil. This is enough to meet nation's oil requirement of 13-14
days.
"The storage at Visakhapatnam will be mechanically completed by
October 2011," said Rajan K. Filial chief executive officer of India
Strategic Petroleum Reserves, - the state-owned firm building the
strategic stockpile.
Economic Times, New Delhi, April 16, 2010
