India receives first Iranian oil parcel for emergency reserves

Business Materials 13 October 2016 12:49 (UTC +04:00)

Baku, Azerbaijan, Oct. 13

By Emil Ilgar – Trend:

Mangalore Refinery and Petrochemicals Ltd (MRPL) received the first parcel of crude oil for delivery into the Mangalore cavern of Indian Strategic Petroleum Reserves Ltd (ISPRL), MRPL announced on its official website.

“The first parcel of 260,000 MT (equals 2 million barrels) of Iran mix crude was received in Very Large Crude Carrier (VLCC) MT DINO and started pumping into the Mangalore cavern for testing the facilities, the report said.

To ensure energy security, government of India had decided to set up 5.33 million metric tons (MMT) of strategic crude oil storages at three locations - Vishakhapatnam, Mangalore and Padur (Near Udupi).

Vishakhapatnam facility with 1.33 MMT capacity has been already commissioned in June 2015. Mangalore facility with capacity of 1.5 MMT has started receiving crude on October 12 for testing the facility.

Padur facility with 2.5 MMT capacity is expected to be ready by the end of this year, the report said.