Branch² Intelligence
ONGC gets board approval to build new strategic crude oil reserve in Mangaluru
Key takeaway
ONGC board approves 1.75 MMT strategic crude reserve in Mangaluru, boosting India's emergency storage by ~10 days of import cover.
- Step 1ONGC board approves 1.75 MMT strategic crude reserve in Mangaluru.
- Step 2Construction phase boosts demand for engineering, procurement, and construction (EPC) services in India.
- Step 3Operational reserve adds ~10 days of import cover, reducing India's spot crude buying during supply crises.
Source: CNBC TV18 (Markets)
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