India wants to add Saudi, UAE oil for strategic reserve in Mangaluru

September 22, 2016

New Delhi, Sep 22: India is talking to Saudi Arabia and the UAE to fill half of the 1.5 million tons (mt) of the Mangalore strategic storage, along with Iranian crude, its oil minister said.

oilstoreDharmendra Pradhan told a news conference India is exploring two to three other models for sourcing oil to fill the remainder of the storage.

During Saudi Energy Minister Kahlid A. Al-Falih's visit to New Delhi in October, India plans to discuss the filling of the Mangalore strategic storage, and investments in refinery and petrochemical projects.

Globally, most of the biggest crude oil consuming countries have a strategic storage capacity of at least 50 days, but India currently stands less than 10 days.

In 2005, the Oil Ministry had set up Indian Strategic Petroleum Reserves Ltd. (ISPRL) to build strategic storages in India.

Under phase I of development, the company has built a total of 5.33 mt of storage capacity in three locations — Vizag (1.33 mt), Mangalore (1.5 mt) and Padur (2.5 mt). Only Vizag is currently operational.

Comments

Satyameva jayate
 - 
Thursday, 22 Sep 2016

Naren
And Viren
Why oil from Islamic nations.......no questions or foolish comments????
Zaroorat padne pe kahee bhi jhukna padega......u can't understand relations between anyone..
Hindu state country world ha ha bla bla bla.....go you saffron's produce some oil for our country....or defend the enemy at borders with chaddi and Lati....foolish fellows..this country is united..if I need it for saffron religion only ..get lost....

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News Network
May 9,2020

Bengaluru, May 9: Karnataka government in its latest order has allowed restaurants, pubs and bars to sell liquor at retail prices from May 9 till May 17. The third phase of coronavirus lockdown is slated to end on May 17.

"Karnataka government has allowed restaurants, pubs and bars to sell liquor at retail prices from tomorrow till May 17. However, they can be sold only in take away form," read an order issued by the state government.

Earlier, the government had allowed the opening of liquor shops in order to mobilise revenue. However, bars, pubs, restaurants were ordered to remain close amid the COVID-19 lockdown.

As per the latest update by the State Health Department, the total number of coronavirus cases in the state is 753. "Of 753 cases, 346 are active cases. 376 persons were discharged after treatment while 30 people have succumbed to the coronavirus," the Health Department said in a release. 

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coastaldigest.com news network
July 12,2020

Mangaluru, Jul 12: No decision has been taken regarding re-imposition of complete lockdown in Dakshina Kannada, according to district in charge minister Kota Srinivas Poojary. 

The minister's clarification comes following social media rumours about complete lockdown in the district from July 14 to contain the spread of coronavirus.

Speaking to media persons, Mr Poojary said that chief minister will hold video conference with Deputy Commissioners, MPs and District ministers of the state on July 13 at 11 am. following which a decision will be taken. 

He also clarified that the government will not cause inconveniences to people by taking any such decision all of a sudden. "People should not pay heed to rumours," he said.

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News Network
February 17,2020

Bengaluru, Feb 17: Union Finance Minister Nirmala Sitharaman on Monday assured that the Centre is committed to stand by its promise of providing Rs 18,600 crore Bengaluru suburban Rail project.

Addressing a press conference after a post-budget interactive session with the representatives of the various trade bodies, industry leaders and others here, she said that the union cabinet has already given its clearance for the long-pending project.

Informing that the central government will have 20 per cent of its capital share in the project followed by another 20 per cent share from the state government, she said "beside this, the union government will stand for a sovereign guarantee for the rest of the 60 percent share, which can be raised through loans from external agencies".

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