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India to build first commercial crude oil strategic storage

India plans to build its first commercial crude oil storage at Padur, Karnataka, with 2.5 million tonnes capacity. The project under ISPRL will be operated in a PPP model, with India retaining emergency oil usage rights. Deadline for bids is April 22.

ISPRL plans to lease out Mangalore oil cavern; draws foreign interest, ET EnergyWorld

This development is part of ISPRL s strategic move to fully lease out the Mangaluru strategic petroleum reserve, which features two caverns of the same capacity.

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