Overview
- Puri said stocks across underground caverns, refineries, floating storage and petroleum products together equal roughly 74 days of demand.
- ISPRL’s three caverns at Visakhapatnam, Mangaluru and Padur provide total storage capacity of 5.33 million metric tonnes.
- Current strategic holdings are about 4.094 MMT, or roughly 77% of capacity, with around 50% of total storage utilized for commercial activities.
- The minister called the buffer below the International Energy Agency’s 90‑day guideline and indicated plans to increase reserves, including starting work in Odisha.
- He noted the reserves were filled during the April–May 2020 price trough, yielding about ₹5,000 crore in notional savings and a weighted procurement cost well below today’s prices.