40-day oil buffer plan enters action phase

5 projects in the works to expand strategic petroleum reserves

- SHUBHANGI MATHUR

India is moving ahead with a major expansion of its strategic petroleum reserve (SPR) network, with five projects planned across Chandikhol in Odisha, Bina in Madhya Pradesh, Bikaner in Rajasthan, and Mangaluru and Padur in Karnataka, according to people familiar with the matter.

The expansion could significantly strengthen India’s energy security, potentially taking its strategic crude oil storage cover to as much as 40 days of consumption from the current nine and a half days, depending on oil demand levels when the projects are completed.

As part of the plan, the government is targeting the award of the construction contract for the Chandikhol SPR by the end of the current financial year (FY27). It is also preparing to begin detailed feasibility reports (DFRs) for the proposed reserves at Bina and Bikaner after securing the required approvals, the people said.