ISPRL plans oil reserve in Madhya Pradesh; Bina proposed as potential site
Indian Strategic Petroleum Reserves (ISPRL) is weighing building a new strategic reserve in Madhya Pradesh to serve refineries in the northern part of the country during supply emergencies.
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ISPRL has mandated Engineers India (EIL) to conduct a «pre-feasibility study» for a strategic crude oil reserve at Bina in MP.
«The location is strategic. It can serve inland refineries in case of a supply emergency. All other strategic petroleum reserves (SPRs) are close to the coast,» an official aware of the plans told ET. EIL's study is likely to be completed in 3-4 months, the official said.
India's operational SPRs are currently located at Visakhapatnam in Andhra Pradesh, and Mangaluru and Padur in Karnataka, with a combined capacity of 5.3 million tonnes. The second phase of SPRs totalling 6.5 mt is planned at Karnataka's Padur and Odisha's Chandikhol, which, when built, will again be best suited for refineries closer to the coast.
SPRs are crucial to India's strategy of managing smooth crude supplies to refineries during emergencies at a time when domestic consumption of petroleum products is rapidly rising. India's strategic reserves are currently limited, making capacity expansion vital for meeting emergency needs. SPRs in the US and China are manifold larger than those in India.
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