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Strategic petroleum reserves

India open to releasing crude oil from strategic petroleum reserves: Govt

Synopsis: In the wake of volatility in global crude oil prices due to an invasion of Ukraine by Russia, the government has said that India is ‘committed to supporting initiatives for releases from Strategic Petroleum Reserves, for mitigating market volatility and calming the rise in crude oil prices'

Govt has approved 2 new strategic oil reserves of capacity 6.5 MMT: Rameswar Teli

The Centre has approved in July the setting up of two underground strategic oil reserves with a total capacity of 6.5 MMT in PPP mode, Rameswar Teli told the Lok Sabha

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