<p>New Delhi: India is seeking private companies to build and operate a 2.5 million metric ton store for petroleum reserves at Padur in Karnataka, according to a tender posted on the website of Indian Strategic Petroleum Reserve Ltd (ISPRL).</p><p>Bids are invited to establish "commercial cum strategic petroleum reserves" including a single point mooring and associated infrastructure on a "design, build, finance, operate and transfer basis", the notice says.</p><p>ISPRL, which manages federal oil inventories, operates three strategic petroleum reserves (SPRs) in southern India with a combined capacity of about 5 million tons. Part of that capacity is used for commercial operations by companies including Abu Dhabi National Oil Co (ADNOC).</p>.Centre defers Rs 5,000 crore plan to fill parts of strategic petroleum reserve.<p>In 2021, India overhauled its policy to allow part of SPRs to be used commercially, mirroring a model adopted by countries such as Japan and South Korea that allows private lessees, mostly oil majors, to re-export crude.</p><p>A pre-bid meeting for the new Padur facility will be held on Jan. 10 and the tender will close on Feb. 3.</p><p>India, the world's third-biggest oil importer and consumer, imports over 80% of its oil needs and is raising its SPR capacity to protect against any global supply disruption.</p><p>India is also planning to build a 4 million ton SPR at Chandikhol in eastern Odisha state.</p>
<p>New Delhi: India is seeking private companies to build and operate a 2.5 million metric ton store for petroleum reserves at Padur in Karnataka, according to a tender posted on the website of Indian Strategic Petroleum Reserve Ltd (ISPRL).</p><p>Bids are invited to establish "commercial cum strategic petroleum reserves" including a single point mooring and associated infrastructure on a "design, build, finance, operate and transfer basis", the notice says.</p><p>ISPRL, which manages federal oil inventories, operates three strategic petroleum reserves (SPRs) in southern India with a combined capacity of about 5 million tons. Part of that capacity is used for commercial operations by companies including Abu Dhabi National Oil Co (ADNOC).</p>.Centre defers Rs 5,000 crore plan to fill parts of strategic petroleum reserve.<p>In 2021, India overhauled its policy to allow part of SPRs to be used commercially, mirroring a model adopted by countries such as Japan and South Korea that allows private lessees, mostly oil majors, to re-export crude.</p><p>A pre-bid meeting for the new Padur facility will be held on Jan. 10 and the tender will close on Feb. 3.</p><p>India, the world's third-biggest oil importer and consumer, imports over 80% of its oil needs and is raising its SPR capacity to protect against any global supply disruption.</p><p>India is also planning to build a 4 million ton SPR at Chandikhol in eastern Odisha state.</p>