Oil and Natural Gas Corporation (ONGC) says its board has approved a project to add 1.75 million tonnes of strategic crude oil storage capacity at Mangaluru, Karnataka. Multiple reports cite an ONGC regulatory filing indicating the approval for expanding India’s emergency oil storage under the government’s Indian Strategic Petroleum Reserves (ISPRL), which manages strategic crude reserves. The reports note that ONGC’s board also authorises engagement with the central government on expanding the commercial utilisation of the facility, subject to the regulatory support required.
The outlets also state that ONGC has not disclosed key project details including the estimated cost and timelines. Coverage links the decision to concerns over global supply risks, including disruptions that heightened interest in strategic reserves. One report describes the decision in the context of the Iran-related supply-chain vulnerabilities.
Existing ISPRL strategic storage is reported as being spread across underground facilities on India’s eastern and western coasts, with a combined capacity of 5.33 million tonnes; additional storage projects under development are expected to add further capacity. The Mangaluru expansion is presented as part of efforts to strengthen national energy security and improve resilience to potential future supply shocks.
