Isprl
ISPRL evaluating bids to build 2nd SPR phase at Karnataka's Padur
Rs 5,500 cr Budget provision for ISPRL could be diverted to building SPR facilities or cater to fuel subsidies because India's storages are nearly full
 "ISPRL evaluating bids to build 2nd SPR phase at Karnataka's Padur")
MRPL signs MoU with ISPRL to utilise underground caverns for crude storage
Mangalore Refinery and Petrochemicals Limited (MRPL) signed a Memorandum of Understanding on Tuesday with Indian Strategic Petroleum Reserves Limited to utilise ISPRL's underground caverns for crude oil storage. The partnership aims to enhance MRPL's crude storage capacity, ensuring supply security and mitigating risks arising from global market volatility. The agreement was signed at MRPL's office in Mangaluru by Executive Director (Refinery), MRPL, B Sudharshan and ISPRL Deputy CEO Atul Gupta, in the presence of MRPL Managing Director Mundkur Shyamprasad Kamath and ISPRL CEO & MD L R Jain. Under the agreement, MRPL will lease storage at ISPRL's facilities, reducing capital expenditure while improving operational flexibility. Officials stated that the strategic location of ISPRL's storage sites, close to MRPL's refinery and the coast, would help cut transportation costs and facilitate smoother logistics. The collaboration is expected to support India's energy security efforts ...
 "MRPL signs MoU with ISPRL to utilise underground caverns for crude storage")
ISPRL seeks private firms to build 2.5 mn tonnes petroleum reserve at Padur
In 2021, India overhauled its policy to allow part of SPRs to be used commercially, mirroring a model adopted by countries such as Japan and South Korea that allows private lessees, mostly oil majors
 "ISPRL seeks private firms to build 2.5 mn tonnes petroleum reserve at Padur")
ISPRL signs deal with Hindustan Petroleum to lease 300,000 MT space
State-run ISPRL has been selling from the caverns to local refiners after a change in the government rules in 2021
 "ISPRL signs deal with Hindustan Petroleum to lease 300,000 MT space")
Trading on a buffer: Can India afford to commercialise its fuel reserves?
India's decision to commercialise half its strategic petroleum reserves could jeopardise its energy security
 "Trading on a buffer: Can India afford to commercialise its fuel reserves?")
After foreign companies, budget gives income tax exemption to ISPRL
Tax changes on ISPRL will be effective April 1
 "After foreign companies, budget gives income tax exemption to ISPRL")
India hopes to finalise partners for strategic oil reserves within a year
India's government approved two strategic petroleum reserve (SPR) sites with a total capacity of 6.5 million tonnes in June
 "India hopes to finalise partners for strategic oil reserves within a year")
