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GlobalData : India to lead liquids storage project count in Asia through 2028, says GlobalData

06 May, 2024 India to lead liquids storage project count in Asia through 2028, says GlobalData Share Print page .

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Indian Strategic Petroleum Reserve signs deal with Hindustan Petroleum to lease space

Indian Strategic Petroleum Reserve signs deal with Hindustan Petroleum to lease space
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India to lease out space in strategic underground oil storages to local, global firms

India to lease out space in strategic underground oil storages to local, global firms
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Govt defers ₹5,000 crore spending on strategic petroleum reserves in FY24

Govt defers ₹5,000 crore spending on strategic petroleum reserves in FY24
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India holds back $600 million strategic oil reserve top-up

India has limited oil storage capacity, with space for only 39 million barrels of crude — barely enough for eight days of the countrys consumption — to use in the event of an emergency. It filled the storage in 2020, when Brent crude prices crashed, but has since released about a third of that oil to local refiners.

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