Oil and Natural Gas Corporation (ONGC) approved the expansion of India's Strategic Petroleum Reserves (SPR) at Mangaluru, Karnataka by 1.75 Million Metric Tonnes (MMT). This is the first instance of ONGC directly funding a strategic storage facility — previously, all SPR facilities were funded by the government. The decision follows recent global supply disruptions from West Asia tensions and Strait of Hormuz attacks. India's current SPR capacity is 5.33 MMT across three underground caverns at Mangaluru (Padur), Visakhapatnam, and Padur — covering approximately 9.5 days of oil consumption.
Economy
ONGC Approves 1.75 MMT Strategic Petroleum Reserve Expansion at Mangaluru — First ONGC-Funded SPR; Energy Security Push
Key Points
- Oil and Natural Gas Corporation (ONGC) approved the expansion of India's Strategic Petroleum Reserves (SPR) at Mangaluru, Karnataka by 1.75 Million Metric Tonnes (MMT)
- This is the first instance of ONGC directly funding a strategic storage facility — previously, all SPR facilities were funded by the government
- The decision follows recent global supply disruptions from West Asia tensions and Strait of Hormuz attacks
- India's current SPR capacity is 5.33 MMT across three underground caverns at Mangaluru (Padur), Visakhapatnam, and Padur — covering approximately 9.5 days of oil consumption
📋
📎 Read original source ↗Exam Note
• ONGC: 1.75 MMT SPR expansion at Mangaluru; first ONGC-funded strategic storage (Jul 2026) • India current SPR: 5.33 MMT; 3 caverns: Padur (Mangaluru), Visakhapatnam, Padur • India SPR covers ~9.5 days of oil consumption; IEA recommendation: 90 days • ONGC: Maharatna PSU; largest oil & gas producer in India; listed on NSE/BSE
