CSC signs MoU on establishing Saudi-Greek Business Council    Eng. Al-Falih starts Greece visit with aim of strengthening investment relations    Photo exhibition on march of Saudi Arabia's kings, urban development opened    Tourism Ministry highlights investment opportunities in AHIC    EU calls for quick resumption of Iran nuclear talks    French ambassador to return to Washington after Macron-Biden talks    A peep into diverse manifestations of National Day festivities during 56 years    Afghanistan's healthcare system on brink of collapse, as hunger hits 95 percent of families    Saudis, expats mourn death of prominent Filipino preacher in Riyadh    The Crown Prince's keenness to develop citizens' capabilities    Joe Biden plays down chances of UK-US trade deal    Saudi Arabia observes Alzheimer's Day with rest of world    Sex and the City star Willie Garson dies aged 57    Saudi exports increase 79.6% in July    Workshop organized with investors from German companies in Riyadh    John Lennon stamps inspiring message of peace, on UN's big week    Al Burj, Chinar, CSG, Kashmir Stags, ARM, Pak Zalmi record big wins in Kanoo League    Four million Indians suffer from obstructive sleep apnea, conference told    Saudi International, Asian Tour confirm historic partnership    Boxer Pacquiao to run for Philippine president in 2022    Saudi Arabia to host Youth Weightlifting World Championships    Bollywood actor Sidharth Shukla dies at 40    Custodian of the Two Holy Mosques Directs KSrelief to Urgently Provide Malaysia with Medical, Preventive Equipment and Supplies to Address COVID-19 Pandemic    Custodian of the Two Holy Mosques Congratulates President of Maldives on Independence Day    Weather Forecast for Sunday    RSNF Commander Patronizes Ceremonial Launching of His Majesty's Ship "Jazan"    OIC Condemns Houthi Attempts to Target Civilians in Saudi Arabia    Philippines evacuates thousands as monsoon rains flood cities, provinces    Heavy rain in India triggers floods, landslides; at least 125 dead    U.S. Records 64,321 New Infections of Coronavirus    Without Fans, Tokyo Olympics Kicked Off    Pilgrims Perform Dhuhr and Asr Prayers at Arafat Holy Site    Dr. Mohammed Sulaiman Al-Jasser, Saudi Arabia's Pick to Chair IsDB Group for the next five years, unanimously approved by BoG Committee of Procedures    Saudi Press: Fitch affirms Saudi Credit Rating at "A" with a revised outlook to stable from negative    Handled Cargo at Saudi Ports Increases during June 2021    SDAIA, DARP & STC Launch Pilgrim's Smart Bracelet (NUSK)    Tabuk sculptor spends 8 years in carving entire Holy Qur'an on 30 marble slabs    2 Goals by Diaz Gives Colombia 3rd Place at Copa America    Legendary actor Dilip Kumar, 98, passes away, and with him an era    Saudi Cinema Night at Arab World Institute in Paris Kicks Off    KSU Leads Joint International Scientific Project for Early Detection of Breast Cancer    Saudi Arabia to Participate in Cannes Film Festival 2021    Arab Cup U-17 Championship Draw Saudi Arabia, Morocco, Palestine, Kuwait, in the 1st Group    AWI Hosts Saudi Cinema Nights in Paris    Brazil Beats Chile at Copa America Despite 2nd-Half Red Card    Council of Senior Scholars: Muslim Brothers' Group Don't Represent Method of Islam, rather only Follows its Partisan Objectives, Violating our Graceful Religion    Eid Al-Adha Prayer Performed at the Grand Holy Mosque    Pilgrims Perform Dhuhr and Asr Prayers in Arafat Holy Site    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



India expanding strategic petroleum reserves into second phase
Published in The Saudi Gazette on 27 - 07 - 2021

India is expanding its strategic petroleum reserves program, the Minister of State for Petroleum and Natural Gas, Rameswar Teli, told the lower House of Parliament, the Lok Sabha, on Monday.
In the second phase of its petroleum reserves program, approvals were given this month for establishing two additional commercial-cum-strategic storage facilities with a total capacity of 6.5 million metric tonnes (MMT) in underground storage structures. The approvals were announced by the Minister today in reply to questions from Lok Sabha members.
In the first phase of India's strategic petroleum reserves program, an agreement to store oil from Abu Dhabi at strategic petroleum reserves in India was signed between the two sides in January 2017 during a visit by Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed to New Delhi.
Following the agreement, the first cargo of crude oil from the Abu Dhabi National Oil Company (ADNOC) was shipped to India 16 months later on May 12, 2018. Subsequent shipments have been ongoing as part of the agreement.
The expansion of India's strategic petroleum reserves into its second phase envisages new facilities at Chandikhol in Odisha state with 4 MMT capacity and another at Padur in Karnataka state with 2.5 MMT capacity.
Both facilities will be built by way of public-private partnerships. The Request for Proposals (RFPs) for building these new facilities is under finalization, Teli said. The government had allocated Indian rupees 2.1 billion ($155.4 billion) in its budget for last year for land acquisition for the expansion in the second phase. — WAM


Clic here to read the story from its source.