Mangaluru and Udupi helps India in saving Rs 5,000 Cr


Team Udayavani, Jun 5, 2020, 12:09 PM IST

India has saved Rs 5,000 crore in foreign exchange while strengthening its energy security by filling the strategic reserves to full capacity with cheap crude oil.

Taking advantage of low crude prices due to the Covid-19 situation, India filled its strategic reserves to full capacity in the Mangaluru and Padur storages.

The storages at Mangalore and Padur were half-empty and there was some space available in Vizag storage as well. These were filled by buying oil from Saudi Arabia, the UAE and Iraq

The Strategic Petroleum Reserve entity of India (ISRPL) built the underground storages at Mangalore and Padur in Andhra Pradesh and Visakhapatnam in Andhra Pradesh as insurance against supply and price disruptions

Mangalore storage has a total capacity of 1.5 million tonnes, out of which half had previously been hired by Abu Dhabi National Oil Co (ADNOC) to store its crude oil. The remaining half was in April/May filled by oil brought by state-owned oil firms.

Padur, the biggest of the three storages, has a total capacity of 2.5 million tonnes (about 17 million barrels) and now government-sourced crude fills up half of the Padur capacity, and the remaining 1.25 million tonnes of crude oil has now being sourced from Saudi Arabia.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Kinnigoli: Truck carrying red stone collides with Auto-Rickshaw; driver injured

UP govt to install 150,000 toilets for Maha Kumbh, set up paying guest facilities

Kavoor Police arrest two notorious cattle thieves

Udupi: Unidentified body found near Bailkere’s Vidhyodaya School

Sexual harassment case cannot be closed on basis of compromise between parties: SC

MLC Ivan D’Souza defends CM Siddaramaiah’s Lokayukta appearance, criticizes BJP’s ‘Drama’ claims

Ranji Trophy: Shreyas Iyer’s majestic 233 puts Mumbai in complete command against Odisha

Related Articles More

Kinnigoli: Truck carrying red stone collides with Auto-Rickshaw; driver injured

Kavoor Police arrest two notorious cattle thieves

Udupi: Unidentified body found near Bailkere’s Vidhyodaya School

MLC Ivan D’Souza defends CM Siddaramaiah’s Lokayukta appearance, criticizes BJP’s ‘Drama’ claims

Mangalore University to host Intercollegiate Women’s Kabaddi tournament at Besant College

MUST WATCH

Gho Pooja in Deepavali Festival

Melukote Deepavali

Ganapathi Co-operative Society Ltd

Udayavani Chinnara Banna 2024

Annapoorna Aahar | Food Places In Mysore


Latest Additions

Felling of trees: What is being done to restore Delhi Ridge? SC asks DDA

Kinnigoli: Truck carrying red stone collides with Auto-Rickshaw; driver injured

UP govt to install 150,000 toilets for Maha Kumbh, set up paying guest facilities

Kavoor Police arrest two notorious cattle thieves

Udupi: Unidentified body found near Bailkere’s Vidhyodaya School

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.