New Delhi, May 8
Petroleum Minister Dharmendra Pradhan said India currently holds 18% of annual energy needs, indicating that the government has made available vast reserves of crude oil to easily meet all requirements in the near future. . “It is the maximum capacity we could hold and we maintain it,” Pradhan told Daniel Yergin, author and one of the world’s most reputable oil policy authorities.
Pradhan said India’s strategic storage capacity of 53 lakh tonnes would be full by mid-May. Other than that, the oil companies have reserved and paid 70 metric tonnes of floating oil in their contracts. There is an online domestic crude oil or product capacity of approximately 250 lakh metric tonnes. – TNS