Poging GOUD - Vrij
India eyes cheap oil to refill strategic reserves amid turmoil
Mint Mumbai
|May 21, 2025
India plans to take advantage of a drop in global crude oil prices to refill its strategic petroleum reserves (SPR), two people aware of the matter told Mint, amid renewed geopolitical headwinds and a fresh budgetary push to bolster the country's energy security.
India's existing SPR capacity stands at 5.3 million tonnes, enough to meet just 9.5 days of the country's crude oil needs. But as of October 2024, only 3.6 million tonnes were stored in the underground caverns, leaving a significant gap.
Officials said the government is now looking to replenish the reserves, with Brent crude trading near a four-year low of around $65 per barrel.
Dit verhaal komt uit de May 21, 2025-editie van Mint Mumbai.
Abonneer u op Magzter GOLD voor toegang tot duizenden zorgvuldig samengestelde premiumverhalen en meer dan 9000 tijdschriften en kranten.
Bent u al abonnee? Aanmelden
MEER VERHALEN VAN Mint Mumbai
Mint Mumbai
Chemical fertilizer cutbacks could aid Indian exports
Chemical fertilizers in India are heavily subsidized and import-dependent.
3 mins
May 18, 2026
Mint Mumbai
Monsoon advances towards Kerala
India’s weather office on Sunday said conditions are turning favourable for the further advance of the south-west monsoon over parts of the south-east Arabian Sea, south-west and south-east Bay of Bengal, the remaining areas of the Andaman Islands and Andaman Sea, and parts of the east-central Bay of Bengal over the next two to three days, even as large parts of north and central India brace for intensifying heatwave conditions.
1 min
May 18, 2026
Mint Mumbai
Like it or not, AI is likely to transform capitalism
This is not just another tech revolution. AI could alter how output is generated, resources are allocated and the ratio of what capital and labour earn. Let’s not get blindsided by it
3 mins
May 18, 2026
Mint Mumbai
Import curbs may raise silver ETF demand
The government's decision to curb silver bar imports could push exchange-traded funds (ETFs) tracking the white metal from trading at a discount to moving into a premium over spot prices, after two weeks, amid concerns of an impending supply squeeze, analysts said.
1 mins
May 18, 2026
Mint Mumbai
India, Netherlands ink 17 pacts, elevate ties
Driven by shifting global geopolitics, India and the Netherlands elevated their ties to a strategic partnership and inked 17 agreements to boost cooperation in defence, critical minerals and other key sectors during talks between Prime Minister Narendra Modi and his Dutch counterpart Rob Jetten.
1 min
May 18, 2026
Mint Mumbai
Planning a baby? Understand the limits of Day-1 newborn coverage
Maternity plans are often more valuable for newborn protection than for delivery-related reimbursement alone
4 mins
May 18, 2026
Mint Mumbai
Coal makes a comeback, fueled by war in the Middle East
Coal is making a comeback.
4 mins
May 18, 2026
Mint Mumbai
Govt digitizes green nods for projects
The government has digitized the compliance process for environmental clearances linked to industrial expansion, in a move aimed at easing regulatory burdens and accelerating project approvals, said two officials aware of the development.
1 min
May 18, 2026
Mint Mumbai
US nuclear industry execs to visit India
A delegation of senior executives from the American nuclear industry is visiting India this week to explore areas of cooperation after New Delhi opened up the tightly-controlled sector for private players.
1 min
May 18, 2026
Mint Mumbai
FASTags for toll-exempt vehicles soon
The Centre is developing a separate category of FASTags for toll-exempt vehicles as part of its nationwide rollout of barrier-free highway tolling under the Multi-Lane Free Flow (MLFF) regime, according to two people aware of the matter.
1 mins
May 18, 2026
Listen
Translate
Change font size