India's Strategic Petroleum Reserves (SPR) Programme
Strategic Petroleum Reserves (SPR) are government-held emergency crude oil stocks designed to cushion the economy against supply shocks. The IEA (International Energy Agency) requires member states to maintain at least 90 days of net oil import coverage in strategic reserves. India, not being a full IEA member, targets its own buffer through the ISPRL programme alongside commercial inventories.
India's SPR programme was launched in 2004 following recommendations from the Expert Committee on Integrated Energy Policy. ISPRL (Indian Strategic Petroleum Reserves Limited) — a subsidiary of the Oil Industry Development Board (OIDB), Ministry of Petroleum — manages the three underground cavern facilities.
- ISPRL established: 2004 (under Ministry of Petroleum and Natural Gas)
- SPR locations and capacities: Visakhapatnam, Andhra Pradesh (1.33 MMT); Mangaluru, Karnataka (1.5 MMT); Padur, Karnataka (2.5 MMT)
- Total SPR capacity: 5.33 MMT (approximately 39 million barrels)
- SPR coverage on its own: approximately 9.5 days of India's total consumption
- IEA standard: 90 days of net import coverage (India's SPR alone falls far short; commercial inventory bridges the gap)
- Phase 2 SPR expansion: Government of India announced plans for additional cavern sites (Chandikhol in Odisha and Padur expansion) targeting ~12 days of additional emergency coverage by 2029–30
- SPR can be loaned to international oil companies for fill-and-drawdown arrangements (e.g., ADNOC of UAE stores crude in Padur under a commercial agreement)
● Tracked since March 03, 2026 · last seen May 15, 2026 · updates as the daily brief publishes