ONGC Approves Development of 1.75 MMT SPR Facility at Mangalore

India’s energy security strategy received a major boost after state-owned Oil and Natural Gas Corporation (ONGC) approved the development of a 1.75 million metric tonne (MMT) Strategic Petroleum Reserve (SPR) facility at Mangalore, Karnataka. The project, approved as an initiative of national importance, aims to strengthen India’s ability to withstand global crude oil supply disruptions and reduce vulnerability to international market volatility.

The proposed SPR expansion will significantly enhance India’s emergency crude storage capacity on the western coast and support the country’s long-term goal of building a robust energy security framework.

The ONGC Board of Directors has granted in-principle approval for the development of the new strategic petroleum storage facility along with associated infrastructure. The project is expected to play a critical role in safeguarding India’s crude oil supply during periods of geopolitical uncertainty, conflicts, or unexpected disruptions in global energy markets.

ONGC plans to approach the government for necessary approvals and regulatory support to explore broader commercial utilization opportunities for the proposed storage facility.