India’s Oil and Natural Gas Corporation (ONGC) has moved forward with plans to construct a new strategic petroleum reserve facility with a capacity of 1.75 million metric tons, equivalent to approximately 13 million barrels.
The project, located in Mangaluru, represents a significant expansion of the country’s buffer stock infrastructure.
The development comes as global energy markets remain sensitive to supply disruptions in the Middle East.
With the Strait of Hormuz facing ongoing security challenges due to regional conflicts, India is prioritizing the enhancement of its strategic reserves to mitigate potential import shocks.
The new storage capacity will add to existing facilities, strengthening the nation's ability to withstand short-term supply interruptions.
This infrastructure push aligns with broader efforts by New Delhi to secure its energy supply chains.