India Taps ONGC for $1.6 Billion Strategic Petroleum Reserve Expansion
India has enlisted Oil and Natural Gas Corp., or ONGC, to accelerate an expansion of its strategic petroleum reserve, centered on a new facility at Mangaluru with capacity of 1.75 million metric tons and an estimated cost of about $1.6 billion. The project would add roughly 13 million barrels of emergency crude storage and lift the country's SPR capacity by about 33% from 5.33 million metric tons.
The expansion is intended to strengthen domestic supply resilience during global oil supply disruptions. India held 74 days of oil stocks, below the International Energy Agency's 90-day benchmark, and had about 21 million barrels of strategic crude at the end of 2025.
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@staunovo#India taps ONGC to accelerate SPR expansion amid global oil supply disruption New 1.75 million mt facility to cost $1.6 billion Project aims to strengthen domestic supply resilience India holds 74 days oil stocks, below IEA 90-day rule #
@india_plus_🚨 Major boost to India's energy security ONGC may invest ₹15,000 crore ($1.6 billion) to build and fill a 1.75 MMT (13 million barrels) Strategic Petroleum Reserve (SPR) at Mangaluru. 🔹 India's SPR capacity could rise from 5.33 MMT (36.92