{"id":2850486,"version":0,"headline":"India’s ONGC to expand crude strategic storage","dateModified":"2026-07-15T04:02:10Z","datePublished":"2026-07-10T08:06:21Z","articleBody":"<article><p class=\"lead\">India's state-owned Oil and Natural Gas (ONGC) is set to add 1.75mn t (12.83mn bl) of strategic petroleum reserve capacity to the country's existing reserves in Mangalore, strengthening overall oil storage to cushion against supply shocks in future. </p><p>The addition will be above Mangalore's existing 1.5mn t underground cavern managed by Indian state-run Strategic Petroleum Reserves (ISPRL), the firm said in an exchange filing on 9 July, and this will take the total capacity in the region to 3.25mn t (23.8mn bl). </p><p>The company further added that the new project is of \"national importance,\" and is being developed in accordance with directives from the oil ministry.</p><p>ONGC is set to invest its own capital as part of the project, in contrast to state-owned refiners only building commercial storage previously. </p><p>But the timeline and the nature of procurement for filling the reserve is still uncertain. </p><p>New Delhi has been mulling increasing the country's crude and LPG reserves to meet at least a month's worth of domestic demand after supply shocks emerged because of the de facto closure of the strait of Hormuz. </p><p>Abu Dhabi's state-owned Adnoc is also looking to <a href=\"https://direct.argusmedia.com/newsandanalysis/article/2827540\">double its crude storage</a> in India, to up to 4mn t (30mn bl), as part of a collaboration with ISPRL.</p><p>Adnoc has nearly 2.05mn t of crude storage in India that includes 800,000t in Mangalore and 1.25mn t in Padur underground storage. </p><p class=\"bylines\">By Rituparna Ghosh</p></article>","dateline":"New Delhi, 10 July (Argus)","license":"<footer><p><br> Send comments and request more information at <a href=\"mailto:feedback@argusmedia.com?subject=Argus Direct article feedback&body=I am contacting you regarding India’s ONGC to expand crude strategic storage, available at http://direct.argusmedia.com/newsandanalysis/article/cs-24782598.\" target=\"_parent\"> feedback@argusmedia.com </a></p><p><i> Copyright © 2026. <a href=\"http://www.argusmedia.com/\" target=\"_blank\">Argus Media group</a>. All rights reserved. </i></p></footer>","copyrightHolder":"Argus Media group","copyrightYear":2026,"taxonomy":{"contexts":[{"name":"Infrastructure","children":[]}],"regions":[{"name":"Asia-Pacific","children":[{"name":"South Asia","children":[{"name":"India","children":[]}]}]}],"sectors":[{"name":"Crude oil","children":[]}]},"pullQuote":null,"newsType":"Daily news","language":"en-GB","keywords":null,"isFree":true,"isFeatured":false,"body":"<p class=\"lead\">India's state-owned Oil and Natural Gas (ONGC) is set to add 1.75mn t (12.83mn bl) of strategic petroleum reserve capacity to the country's existing reserves in Mangalore, strengthening overall oil storage to cushion against supply shocks in future. </p><p>The addition will be above Mangalore's existing 1.5mn t underground cavern managed by Indian state-run Strategic Petroleum Reserves (ISPRL), the firm said in an exchange filing on 9 July, and this will take the total capacity in the region to 3.25mn t (23.8mn bl). </p><p>The company further added that the new project is of \"national importance,\" and is being developed in accordance with directives from the oil ministry.</p><p>ONGC is set to invest its own capital as part of the project, in contrast to state-owned refiners only building commercial storage previously. </p><p>But the timeline and the nature of procurement for filling the reserve is still uncertain. </p><p>New Delhi has been mulling increasing the country's crude and LPG reserves to meet at least a month's worth of domestic demand after supply shocks emerged because of the de facto closure of the strait of Hormuz. </p><p>Abu Dhabi's state-owned Adnoc is also looking to <a href=\"https://direct.argusmedia.com/newsandanalysis/article/2827540\">double its crude storage</a> in India, to up to 4mn t (30mn bl), as part of a collaboration with ISPRL.</p><p>Adnoc has nearly 2.05mn t of crude storage in India that includes 800,000t in Mangalore and 1.25mn t in Padur underground storage. </p><p class=\"bylines\">By Rituparna Ghosh</p>","lead":"India's state-owned Oil and Natural Gas (ONGC) is set to add 1.75mn t (12.83mn bl) of strategic petroleum reserve capacity to the country's existing reserves in Mangalore, strengthening overall oil storage to cushion against supply shocks in future. ","cmsId":"24782598","source":"Censhare"}