INDIAN STRATEGIC PETROLEUM RESERVES LTD (ISPRL)

To ensure energy security, the Government of India has decided to set up 5 million metric tones (MMT) strategic crude oil storages at three locations namely, Visakhapatnam, Mangalore and Padur (near Udupi). These strategic storages would be in addition to the existing storages of crude oil and petroleum products with the oil companies and would serve as a cushion in response to external supply disruptions. The construction of the proposed strategic storage facilities is being managed by Indian Strategic Petroleum Reserves Limited (ISPRL), a Special Purpose Vehicle, owned by Oil Industry Development Board (OIDB).