India's Strategic Oil Reserves Reach 3.37 Million Metric Tonnes, Minister Reports
Synopsis
India's strategic oil reserves currently hold approximately 3.37 million metric tonnes, accounting for 64% of its total capacity. This development is part of a broader strategy to ensure energy security and diversify import sources amid global market fluctuations.
Key Takeaways
India's strategic oil reserves currently hold 3.372 MMT .
This amount represents 64% of the total storage capacity.
New reserves are being established in Odisha and Karnataka, adding 6.5 MMT .
India imports crude oil from 41 countries .
About 70% of oil imports are from non-Gulf nations.
New Delhi, March 23 (NationPress) The current inventory of crude oil in India’s strategic reserves stands at approximately 3.372 million metric tonnes (MMT), which constitutes 64 percent of the overall storage capacity, as reported to Parliament on Monday.
The government has created Strategic Petroleum Reserves (SPR) facilities, managed by a Special Purpose Vehicle known as the Indian Strategic Petroleum Reserve Limited (ISPRL). These facilities, located in Andhra Pradesh and Karnataka, have a combined capacity of 5.33 million metric tonnes (MMT) and serve as a buffer against short-term supply disruptions, as stated by Suresh Gopi, Minister of State for Petroleum and Natural Gas, in a written response to the Rajya Sabha.
The amount of crude oil stored in these facilities fluctuates based on market dynamics. The actual reserve is not static; it changes according to stock levels and consumption rates. Presently, ISPRL has approximately 3.372 MMT of crude oil in storage, reflecting 64 percent of its total capacity, the minister detailed.
In July 2021, the government also sanctioned the development of two new commercial and strategic petroleum reserve facilities in Odisha and Karnataka, which will add a total storage capability of 6.5 MMT.
Furthermore, to enhance crude supply security and reduce reliance on any single source, public sector enterprises (PSEs) in the oil and gas sector procure crude oil from multiple origins based on technical and economic factors. Currently, these entities import crude oil from 41 countries, including emerging suppliers such as the USA, Nigeria, Angola, Canada, Colombia, Brazil, and Mexico, alongside traditional providers in the Middle East like Iraq, Saudi Arabia, UAE, Kuwait, and Qatar.
Following the blockage of the Strait of Hormuz, a critical transit route for 20 percent of the global oil and gas exports, India has diversified its import sources. Now, around 70 percent of the nation’s oil imports originate from nations outside the Gulf region.
Point of View
It is essential to recognize the strategic significance of India’s crude oil reserves. With current stocks at 3.37 million metric tonnes, this move not only fortifies the country’s energy security but also illustrates a proactive approach in diversifying import sources, reducing vulnerability to geopolitical tensions.
NationPress
12 May 2026
Frequently Asked Questions
What is the current quantity of crude oil in India's strategic reserves?
India's strategic reserves currently hold approximately 3.372 million metric tonnes of crude oil.
What is the total capacity of India's strategic petroleum reserves?
The total capacity of India's strategic petroleum reserves is 5.33 million metric tonnes.
Why are these reserves important?
These reserves act as a buffer against short-term supply shocks and enhance energy security.
How many countries does India import crude oil from?
India imports crude oil from 41 countries, including both traditional and emerging suppliers.
What percentage of oil imports comes from outside the Gulf region?
Approximately 70 percent of India's oil imports now come from countries outside the Gulf.
