India building strategic oil reserves: ONGC board approves plan for 1.75-million-tonne storage capacity

Jul 10, 2026 - 23:00
India building strategic oil reserves: ONGC board approves plan for 1.75-million-tonne storage capacity

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As the world's third-largest importer and consumer of crude oil, India relies on imports for more than 88 per cent of its crude oil requirements. Against the backdrop of geopolitical uncertainty and fluctuations in global oil markets.

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