New Delhi has looked to quicken the development of India’s SPR
India’s SPRs could be too little, too late
A greater focus on oil security may not be enough to deliver a comprehensive strategy for the net importer’s strategic petroleum reserves
Uncertainty about the availability and price of crude oil during the last 18 months has prompted governments across the world to take steps to safeguard their energy security. Countries such as India, which are highly dependent on imports for their energy requirements, are extra conscious of the need for oil buffers. New Delhi has looked to quicken the development of India’s strategic petroleum reserve (SPR), including speeding up land acquisition and construction at two new sites and scouting for a fifth location to increase the SPR’s overall designed capacity. The country was late in setting up an SPR, with the last of the units in the first phase of development coming online just five yea
Also in this section
25 March 2025
Cote d’Ivoire’s ambitions to become a major regional producer have gained renewed momentum, with established players and new entrants striking upstream deals and committing to long-term investment
24 March 2025
Indian E&P company wants to take domestic production to a new horizon, given the amount of unexplored opportunities
21 March 2025
Two recent developments raise the prospect of a revival in northern Iraqi oil and gas fortunes, but familiar obstacles could thwart momentum
20 March 2025
As cash-strapped Western governments commit to substantially raising defence expenditure, a similar dynamic is playing out in Saudi Arabia’s oil and gas sector, as Saudi Aramco maintains it heavy capex push despite reduced revenues
