GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

Cabinet Nod for Two More Strategic Petroleum Reserves, Says Piyush Goyal

The government will set up a 4.4-million-tonnes SPR at Chandikhol in Odisha, and a 2.5-million-tonnes facility at Padur in Karnataka.

Reuters

Updated:June 27, 2018, 5:08 PM IST
facebookTwittergoogleskypewhatsapp
Cabinet Nod for Two More Strategic Petroleum Reserves, Says Piyush Goyal
File photo of Union minister Piyush Goyal. (Reuters)
Loading...
Mumbai: The cabinet on Wednesday approved establishment of two strategic petroleum reserves (SPRs) with a total capacity of 6.5 mln tonnes, interim Finance Minister Piyush Goyal said.

The government will set up a 4.4-million-tonnes SPR at Chandikhol in Odisha, and a 2.5-million-tonnes facility at Padur in Karnataka. It has built three SPR of 5.33 million tonnes in southern India equivalent to meet 10 days of crude requirement.

The two planned SPRs will be provide additional supply of about 12 days. India to approach potential investors for operating the SPRs on public private partnership.

ADNOC has leased a part of the existing storage at Padur. Establishment of SPRs will significantly help India's energy security and insulate the country from external price and supply shocks.
| Edited by: Parth Sharma
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Titan Company 894.75 5.56
SBI 277.95 -1.87
Yes Bank 223.05 -2.13
Reliance 1,080.00 -1.23
Dewan Housing 241.55 3.83
Company Price Change %Gain
Tata Steel 582.90 1.67
Titan Company 892.80 5.28
Yes Bank 222.75 -2.24
Dewan Housing 241.70 3.96
PC Jeweller 90.45 -1.52
Top Gainers
Company Price Change %Gain
Titan Company 894.75 5.56
Tech Mahindra 724.55 2.45
Tata Steel 582.85 1.86
Kotak Mahindra 1,153.70 1.60
Cipla 531.85 0.93
Company Price Change %Gain
Tata Steel 582.90 1.67
Kotak Mahindra 1,155.90 1.59
Infosys 664.45 0.45
TCS 1,915.90 0.32
Larsen 1,367.00 0.02
Top Losers
Company Price Change %Gain
HPCL 225.05 -6.73
Tata Motors 186.05 -4.71
IOC 135.05 -4.66
Bajaj Finance 2,277.60 -4.12
Hindalco 229.25 -4.00
Company Price Change %Gain
Tata Motors 185.95 -4.84
Hero Motocorp 2,837.50 -3.82
Power Grid Corp 186.00 -2.87
Maruti Suzuki 7,073.90 -2.64
Vedanta 203.45 -2.59

Live TV

Loading...
Loading...