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India invites global bids for filling strategic oil storage

Press Trust of India  |  New Delhi 

has invited bids from global firms and traders to lease out capacity in the newly built underground strategic storage at Padur in Karnataka.

India, which is 80 per cent dependent on to meet its needs, has built three underground storages at Vishakhapatnam in and Mangalore and Padur in as against supply disruptions.



Indian Strategic Petroleum Reserves Ltd (ISPRL), under the administrative jurisdiction of Ministry of Petroleum and Natural Gas, of India, has built strategic storages at three locations.

"ISPRL, on behalf of of India, has invited preliminary Expression of interest from reputed, companies/ traders/ financial institutions/ multinational companies either individually or as a consortium, interested in storing in any one or more compartments of the storage facility at Padur," an official statement said.

The four compartments at Padur provide a total storage capacity of 19.4 million bBarrels (MMbbl).

The underground rock cavern storages at Visakhapatnam and Mangalore have already been commissioned. Padur facility is expected to be ready for crude filling in the first quarter of 2017, the statement said.

"The Padur facility is connected to the 15 million tons per annum refinery of Mangalore Refineries and Petrochemicals Ltd (MRPL) which is proposed to be expanded to 21 million tons per annum soon," it added.

Minister Dharmendra Pradhan had last week informed the Parliament that Abu Dhabi National Company (ADNOC), Saudi Aramco of Saudi Arabia and Royal Dutch Shell have evinced interest in hiring strategic storages at Mangalore.

Pradhan had said under Strategic Petroleum Reserve project Phase-I, underground rock caverns for storage of 5.33 million tons of at three locations -- Vishakhapatnam (1.33 million tons), Mangalore (1.50 million tons) and Padur (2.5 million tons) have been created.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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India invites global bids for filling strategic oil storage

India has invited bids from global oil firms and traders to lease out capacity in the newly built underground strategic oil storage at Padur in Karnataka. India, which is 80 per cent dependent on imports to meet its crude oil needs, has built three underground oil storages at Vishakhapatnam in Andhra Pradesh and Mangalore and Padur in Karnataka as insurance against supply disruptions. Indian Strategic Petroleum Reserves Ltd (ISPRL), under the administrative jurisdiction of Ministry of Petroleum and Natural Gas, Government of India, has built strategic storages at three locations. "ISPRL, on behalf of Government of India, has invited preliminary Expression of interest from reputed, companies/ traders/ financial institutions/ multinational companies either individually or as a consortium, interested in storing crude oil in any one or more compartments of the storage facility at Padur," an official statement said. The four compartments at Padur provide a total storage ... has invited bids from global firms and traders to lease out capacity in the newly built underground strategic storage at Padur in Karnataka.

India, which is 80 per cent dependent on to meet its needs, has built three underground storages at Vishakhapatnam in and Mangalore and Padur in as against supply disruptions.

Indian Strategic Petroleum Reserves Ltd (ISPRL), under the administrative jurisdiction of Ministry of Petroleum and Natural Gas, of India, has built strategic storages at three locations.

"ISPRL, on behalf of of India, has invited preliminary Expression of interest from reputed, companies/ traders/ financial institutions/ multinational companies either individually or as a consortium, interested in storing in any one or more compartments of the storage facility at Padur," an official statement said.

The four compartments at Padur provide a total storage capacity of 19.4 million bBarrels (MMbbl).

The underground rock cavern storages at Visakhapatnam and Mangalore have already been commissioned. Padur facility is expected to be ready for crude filling in the first quarter of 2017, the statement said.

"The Padur facility is connected to the 15 million tons per annum refinery of Mangalore Refineries and Petrochemicals Ltd (MRPL) which is proposed to be expanded to 21 million tons per annum soon," it added.

Minister Dharmendra Pradhan had last week informed the Parliament that Abu Dhabi National Company (ADNOC), Saudi Aramco of Saudi Arabia and Royal Dutch Shell have evinced interest in hiring strategic storages at Mangalore.

Pradhan had said under Strategic Petroleum Reserve project Phase-I, underground rock caverns for storage of 5.33 million tons of at three locations -- Vishakhapatnam (1.33 million tons), Mangalore (1.50 million tons) and Padur (2.5 million tons) have been created.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

India invites global bids for filling strategic oil storage

has invited bids from global firms and traders to lease out capacity in the newly built underground strategic storage at Padur in Karnataka.

India, which is 80 per cent dependent on to meet its needs, has built three underground storages at Vishakhapatnam in and Mangalore and Padur in as against supply disruptions.

Indian Strategic Petroleum Reserves Ltd (ISPRL), under the administrative jurisdiction of Ministry of Petroleum and Natural Gas, of India, has built strategic storages at three locations.

"ISPRL, on behalf of of India, has invited preliminary Expression of interest from reputed, companies/ traders/ financial institutions/ multinational companies either individually or as a consortium, interested in storing in any one or more compartments of the storage facility at Padur," an official statement said.

The four compartments at Padur provide a total storage capacity of 19.4 million bBarrels (MMbbl).

The underground rock cavern storages at Visakhapatnam and Mangalore have already been commissioned. Padur facility is expected to be ready for crude filling in the first quarter of 2017, the statement said.

"The Padur facility is connected to the 15 million tons per annum refinery of Mangalore Refineries and Petrochemicals Ltd (MRPL) which is proposed to be expanded to 21 million tons per annum soon," it added.

Minister Dharmendra Pradhan had last week informed the Parliament that Abu Dhabi National Company (ADNOC), Saudi Aramco of Saudi Arabia and Royal Dutch Shell have evinced interest in hiring strategic storages at Mangalore.

Pradhan had said under Strategic Petroleum Reserve project Phase-I, underground rock caverns for storage of 5.33 million tons of at three locations -- Vishakhapatnam (1.33 million tons), Mangalore (1.50 million tons) and Padur (2.5 million tons) have been created.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22

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