The Centre plans to import about 5.5 million barrels of crude oil after October to fill part of its Mangalore strategic petroleum reserve (SPR) in southern Karnataka state and may change the crude grade at another facility, a source familiar with the plan said on Thursday.
The oil imports are needed because one of the Mangalore reserve tanks is currently empty.
India, the world’s third-biggest oil importer and consumer, has built strategic storage at three locations – Mangalore, Padur and Vizag – in southern India to store up to 5 million tonnes of crude (37 million barrels) that could be tapped on in case of supply disruption.
