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The government-run Indian Strategic Petroleum Reserves Limited (ISPRL) has created storage facilities in three caverns in Visakhapatnam, Mangaluru and Padur (near Udupi).(HT Photo)

5 million tonnes of India’s oil reserves lie uninsured

Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON JUN 16, 2019 08:45 AM IST
Global reinsurers are unwilling to provide cover for 5 million tonnes of oil which includes supplies from Iran fearing adverse action against them for breaching American sanctions on Tehran..
A partial view of the Essar oil refinery at Vadinar, Gujarat, India(HT File)
A partial view of the Essar oil refinery at Vadinar, Gujarat, India(HT File)

India hopes to finalise partners for strategic oil reserves within a year

New Delhi | By Reuters
UPDATED ON OCT 15, 2018 02:52 PM IST
India’s government approved two strategic petroleum reserve (SPR) sites with a total capacity of 6.5 million tonnes in June.
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