Home » Business » Union Cabinet approved establishment of additional 6.5 Million Metric Tonne Strategic Petroleum Reserve at Chandikhol in Odisha

Union Cabinet approved establishment of additional 6.5 Million Metric Tonne Strategic Petroleum Reserve at Chandikhol in Odisha

New Delhi:27/6/18; The Union Cabinet chaired by Prime Minister Narendra Modi has approved establishment of additional 6.5 Million Metric Tonne (MMT) Strategic Petroleum Reserve (SPR) facilities at two locations – Chandikhol in Odisha and Padur in Karnataka, including construction of dedicated SPMs (Single Point Mooring) for the two SPRs.

The SPR facilities at Chandikhol and Padur will be underground rock caverns and will have capacities of 4 MMT and 2.5 MMT respectively. Government had announced setting up of two additional SPRs during the budget announcement for 2017-18.

The in principle approval is to take up the project under PPP model to reduce budgetary support of Government of India. The terms and conditions of such participation would be determined by M/o P&NG in consultation with Ministry of Finance after conducting road shows to elicit requirements of market, including prospective investors.

ISPRL has already constructed underground rock caverns for storage of 5.33MMT of crude oil at three locations, viz. Vishakhapatnam (1.33 MMT), Mangalore (1.5 MMT) and Padur (2.5 MMT). The total 5.33 MMT capacity under Phase-I of the SPR programme is currently estimated to supply approximately 10 days of India’s crude requirement according to the consumption data for FY2016-17. Cabinet’s approval for establishing additional 6.5 MMT Strategic Petroleum Reserve facilities will provide an additional supply of about 12 days and is expected to augment India’s energy security.

The construction phase of the SPRs at Chandikhol and Padur is likely to generate significant direct & indirect employment opportunities in the states of Odisha and Karnataka.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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