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International Relations GS 2 In the news 22 times

Strategic Petroleum Reserves (SPR)

India's Programme

India's SPR programme was established following a Cabinet Committee on Security decision in 2003. Indian Strategic Petroleum Reserves Ltd (ISPRL), a wholly-owned subsidiary of Oil Industry Development Board (OIDB), manages the underground caverns.

Key details
  • Locations: Visakhapatnam (AP) — 1.33 MMT; Mangaluru (Karnataka) — 1.5 MMT; Padur (Karnataka) — 2.5 MMT; Total — 5.33 MMT
  • Phase-2 expansion planned at Chandikhol (Odisha) and Padur (additional), targeting 6.5 MMT additional capacity
  • India also explored commercial partnerships: ADNOC (UAE) and Saudi Aramco have stored crude in Indian caverns, providing revenue and assured supply access in emergencies
  • IEA recommends 90-day cover; India's current reserves cover roughly 9.5–10 days of net imports
In the news

● Tracked since February 28, 2026 · last seen June 28, 2026 · updates as the daily brief publishes

28 Jun '26
'India needs to augment its strategic crude oil reserves': EY warns as import dependence crosses 90% in FY26
Economics
10 Jun '26
India, UAE move to expand strategic crude reserves; Abu Dhabi-linked oil storage may rise to 30 mln barrels
Economics
25 May '26
India to strengthen EV shield against oil imports with fresh subsidies: Report
Economics
15 May '26
‘We condemn attacks on UAE’, says PM Modi, signs defence cooperation pact
International Relations
15 May '26
PM Modi’s quick dash to UAE fetches agreements on defence, LPG & strategic petroleum reserves
International Relations
13 May '26
Hindustan Petroleum Q4 net profit accelerates 46% on improved refining margins before conflict impact
Polity & Governance
12 May '26
India has adequate stocks of fuel supply, but OMC losses could hit ₹1 lakh cr: Minister of Petroleum and Natural Gas
Economics
05 May '26
India’s energy security amid conflicts
International Relations
05 May '26
Prioritise energy security for keeping growth momentum going: RBI MPC member
Economics
25 Apr '26
Strategic petroleum reserves: Why India needs bigger oil buffers & how others compare | Cut The Clutter
Economics
13 Apr '26
IMF, World Bank, IEA urge countries to stop hoarding energy supplies, imposing export controls
International Relations
10 Apr '26
India must rethink West Asia energy reliance after biggest shock in decades, says ONGC chief
Economics
09 Apr '26
Lesson from West Asia conflict is to factor-in adverse scenarios while framing policies: Oil Secretary
International Relations
09 Apr '26
India mulls creating 30-day LPG strategic reserve
Polity & Governance
08 Apr '26
Inter-Ministerial Briefing on Recent Developments in West Asia
International Relations
16 Mar '26
How India’s tough spot between Iran and US can dent the economy
International Relations
13 Mar '26
Oil prices slightly lower after US allows all countries to purchase Russian oil for 30 days
Economics
12 Mar '26
One foreign-flagged vessel carrying oil for India crosses war-hit Strait of Hormuz to reach Mumbai
International Relations
11 Mar '26
Policy missteps: On the government’s handling of India’s fuel crisis
Economics
09 Mar '26
G7 to discuss joint release of emergency oil reserves: Report
International Relations
07 Mar '26
Iran-Israel conflict heightens risks to India’s energy security, inflation and fiscal stability: Government review
Economics
28 Feb '26
Will oil prices touch $100? What will be economic impact of US-Israel attack on Iran? Expert weighs in
Economics
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