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The Economic Times
The Economic Times
Business

ONGC to reserve half of new oil storage for strategic reserves

ONGC Oil Petroleum India Suresh Gopi Natural Gas Odisha

Half of the 1.75 million tonnes petroleum storage facility being developed by state-run Oil and Natural Gas Corporation (ONGC) at Mangaluru will be reserved for strategic petroleum reserves, while the remaining capacity will be used for commercial operations, the government said on Monday.

Minister of State for Petroleum and Natural Gas Suresh Gopi in a written reply in Rajya Sabha said that ONGC is developing the facility, which will have a total capacity of 1.75 million tonnes.

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