India’s MRPL NSE 0.29 % plans to fill a part of the Mangalore strategic petroleum reserve (SPR) with Saudi oil, replacing Abu Dhabi’s Upper Zakum grade, as it prepares to lease some space in the facility, a senior official said on Thursday.
H.P.S. Ahuja, chief executive of Indian Strategic Petroleum Reserves Ltd (ISPRL), which manages the federal oil inventories , confirmed Reuters’ earlier reports that India has overhauled its SPR policy to lease a part of the facility to Indian and foreign companies.
