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Indian Strategic Petroleum Reserves Limited (ISPRL) is an Indian public sector company responsible for maintaining the country's strategic petroleum reserves.ISPRL is a wholly owned subsidiary of the Oil Industry Development Board (OIDB), which functions under the administrative control of the Ministry of Petroleum and Natural Gas.
Reuters reported last month that India had changed its policy to allow the Indian Strategic Petroleum Reserves Ltd (ISPRL), which manages the federal oil inventories, to lease 30% of its overall ...
Strategic reserves are intended to be used to cover short-term supply disruptions. In 2004, approximately 4.1 billion barrels (650,000,000 m 3) of oil was held in strategic reserves by International Energy Agency member states, of which 1.4 billion is government-controlled and the remainder held by private industry. [1]
The administration has been pushing China, India, Japan and South Korea to join in a coordinated effort to release reserves of crude oil to help tamp down rising gasoline prices.
Because proven reserves include oil recoverable under current economic conditions, nations may see large increases in proven reserves when known, but previously uneconomic deposits become economic to develop. In this way, Canada's proven reserves increased suddenly in 2003 when the oil sands of Alberta were seen to
Congress forced the government to sell gasoline from the Strategic Petroleum Reserve, an obligation the Biden administration is now bragging about fulfilling. Energy Department Turns Ordinary ...
As of 1 April 2021, India had estimated crude oil reserves of 587.335 Mt, decreasing by 2.65% from the previous year. The largest reserves are found in the Western Offshore (37%) and Assam (27%). The estimated reserves of natural gas in India as of 1 April 2021 was 1,372.62 BCM, increasing by 0.52% from the previous year.
One of Biden’s top energy aides confirmed Friday that no extension of releases from the Strategic Petroleum Reserve - scheduled to end this fall - is in the offing. But added a promise that it ...