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In a twist, India's new strategic oil reserves will be privately run

In a twist, India’s new strategic oil reserves will be privately run
May 14, 2021
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The PPP mode aims to leverage private sector resources in construction and operation with some financial support from the government
A private firm or consortium will run the two new underground crude oil storage facilities planned in Odisha and Karnataka in a move that discards an earlier plan by the government to build these reserves through the public sector Indian Strategic Petroleum Reserves Limited (ISPRL).
The government has decided to more than double the country’s strategic crude oil reserves to 11.83 million tonnes (mt) from 5.33 mt to boost crude oil availability during oil shortage events. The two strategic reserves can hold 47.8 million barrels of crude. ....

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Using fossil fuel as a cash cow: A big obstacle in India's energy transition

Using fossil fuel as a cash cow: A big obstacle in India's energy transition
mongabay.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mongabay.com Daily Mail and Mail on Sunday newspapers.

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