ONGC to Build Oil Storage Facility in Mangaluru

The Oil and Natural Gas Corporation (ONGC) is developing a 1.75 million metric ton oil storage facility in Mangaluru, fully funding the project. According to Junior Oil Minister Suresh Gopi, half of the facility's capacity will be reserved for India's strategic petroleum reserves, while the other half will support commercial operations. The site is located near a refinery managed by ONGC subsidiary Mangalore Refinery and Petrochemicals.

This project supports a broader government strategy to increase Strategic Petroleum Reserve (SPR) capacity through private sector participation. Other planned facilities include sites at Chandikhol, Odisha, and Padur, Karnataka. Gopi informed lawmakers that India currently maintains a national storage capacity for crude oil and petroleum products sufficient to meet 74 days of its net crude import requirements.