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Cabinet approves filling of Padur Strategic Petroleum Reserves by overseas National Oil Companies

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The Union Cabinet on Thursday approved the filling of Padur Strategic Petroleum Reserves (SPR) at Padur, Karnataka by overseas National Oil Companies (NOCs). 
 
The SPR facility at Padur is an underground rock cavern with a total capacity of 2.5 million metric tonnes (MMT) having four compartments of 0.625 MMT each. The filling of the SPR under PPP model is being undertaken to reduce the budgetary support of the Union Government.
 
The Indian Strategic Petroleum Reserves Ltd. (ISPRL) has constructed and commissioned underground rock caverns for storage of total 5.33 MMT of crude oil at three locations namely Vishakhapatnam (1.33 MMT), Mangalore (1.5 MMT) and Padur (2.5 MMT). 
 
The total 5.33 MMT capacity under Phase-I of the SPR programme is currently estimated to supply approximately 9.5 days of India’s crude requirement according to the consumption data for FY 2017-18. 
 
The Government has given ‘in principle’ approval in June 2018 for establishing additional 6.5 MMT SPR facilities at Chandikhol in Odisha and Padur in Karnataka, which is expected to augment India’s energy security by 11.5 days. 
 
NNN
 

(Our News Desk can be contacted at desk@netindian.in)

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