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Underground crude oil storage plants with a total capacity of 3.55 million metric tons have been created in Mangaluru and Udupi to conveniently store crude oil which is to be used in case of an emergency. In relation to this, the central government has decided to create another crude oil storage plant with 2.5 million metric ton capacity at Paduru in Udupi. In this way, a total of 6.50 million metric tons of crude oil will be stored in Karavali. Currently, it the largest crude oil storage plant in the country to be used during an emergency.
Crude oil storage plant at three locations
Three underground storage facilities have been created by Indian Strategic Petroleum Reserve Limited (ISPRL) which comes under petroleum ministry. The storage unit capacity at Padur near Udupi is 2.5 million metric tons (1,693 crore rupees cost), the storage unit capacity at Permude in Mangaluru is 1.5 million metric tons (1,227 crore rupees cost), 1.5 million metric tons capacity storage unit at Vishakhapatnam (1,178 crore rupees cost) and in this way, the target of 5.3 million metric tons of storage of crude oil has been set.
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Paduru ready; Permude at half capacity
Construction work at Paduru has completed and the petroleum ministry is yet to commence its filling. Oil from Iran and ‘Abu Dhabi National Oil Company’ (ADNOC) will be imported and stored at the storage unit in Permude. One part of the oil will be provided to India’s commercial consumers by ADNOC, while the remaining oil is reserved for the emergency.
Import of crude oil from Iran to Mangaluru
USA has set November 4th to be the deadline for India, China and other countries to stop importing oil from Iran. America has threatened economic sanctions if the deadline is missed. After Iraq and Saudi Arabia, Iran is the third highest crude oil providing country for India.