India says Petrochina, other global oil companies keen to build SPRs
08.07.2023 By Tank Terminals - NEWS

August 7, 2023 [The Economic Times]- Chines oil Petrochina is among global ompanies that have shown interest in building new stratagic petroleum reserves (SPRs) in India, the country’s junior oil minister said on Thursday.


During two roadshows held to seekprivate investment for building the SPRs, global companies, including BP, Shell and traders Trafigura, Vitol, Glencore, Vopak and KNOC showed interest, Rameswar Teli said.

India, the world’s tirld biggest oil importer and consumer, has 5.55 million tonnes of crude reserves at three locations in sourthern India.

In 2021, the Indian cabinet approved building two more SPRs with the help of private companies- a 6.5 million- tonne facility at Chandikhol in easter Odisha state and a 2.5 million-tonne at Padure in southern Karnataka state.

The SPRs would be owned by the federal governement. The government would hold the first right ovrer the crude oil, in case ogf any shortage, Teli said in a written reply to a query from lawmakers.

“The concessionaire shall transfer the SPR along with single moorning point, onshore and offshor pipeline to the government at the end of the 60 years of concession period,” Teli said.


Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

JSW Infrastructure Eyes Plans for Green Hydrogen, Ammonia Plants at Its Ports
07.22.2024 - NEWS
July 22, 2024 [Microsoft Start]- JSW Infrastructure Ltd, India’s second-largest port operator, ... Read More
Standic Announce Successful Completion of The Second Phase of Their Terminal in Antwerp
07.22.2024 - NEWS
July 22, 2024 [Storage Terminals Magazine]- Standic, a leading terminal operator, is delighted to... Read More
NFE Launches Altamira LNG Production
07.22.2024 - NEWS
July 22, 2024 [LNG Prime]- US LNG firm New Fortress Energy has started producing liquefied natura... Read More
ExxonMobil Selling Malaysia Oil and Gas Assets to Petronas, Sources Say
07.22.2024 - NEWS
July 22, 2024 [Reuters]- Exxon Mobil Corp has agreed to sell its Malaysian oil and gas assets to ... Read More