Govt seeks $2.2 billion to build second phase of strategic oil reserves
Strategic storage reserves are underground rock caverns used to store crude oil that can be used in case of a supply cut-off to a country.
Feb 04, 2016, 14:45 PM IST
Savings on oil will help in funding social security schemes: FM
India, which imports close to 80 percent of its oil needs, spent about USD 124 billion in 2014-15 on shipping oil.
Aug 28, 2015, 22:29 PM IST
'India's oil imports dependence may hit 90% in next 2 decades'
India imports 79 percent of its oil needs, and spent USD 138.3 billion on the same.
Aug 28, 2015, 18:00 PM IST
Govt allocates Rs 4,948 cr for filling strategic oil reserves
Taking advantage of lower oil prices, the government on Tuesday allocated Rs 4,948 crore to full India's maiden strategic oil reserves to insulate itself from supply disruptions.
Mar 31, 2015, 22:27 PM IST
India to import Iraqi oil to fill strategic reserves
India is set to import 8 million barrels of Iraqi oil to fill its first strategic petroleum reserve (SPR).
Mar 19, 2015, 10:52 AM IST
