JUNE 20239India intends to import around 5.5 million barrels of crude oil after October to partially replenish its Mangalore Strategic Petroleum Reserve (SPR) in southern Karnataka state and may also alter the crude grade at another facility. Because one of the Mangalore reserve tanks is currently empty, oil imports are required. India, the third-largest importer and user of oil in the world, has constructed strategic storage at three locations in southern India: Mangalore, Padur, and Vizag. These facilities can hold up to 5 million tonnes (37 million barrels) of crude oil, which may be used in the event of a supply disruption. After a change in government regulations in 2021, Indian Strategic Petroleum Reserves Ltd (ISPRL), the government owned firm tasked with managing the SPRs, has began selling from the caverns to neighbourhood refineries. The Mangalore SPR facility comprises two compartments of the same capacity, each holding around 5.5 million barrels. According to the source, one of those that had held Saudi oil is now empty.After the single point mooring (SPM) facility at the Mangalore port resumes operations in October, this compartment would be filled, the source said. During the monsoon season, the SPM, which is used by very big crude carriers to discharge oil, is normally closed. Abu Dhabi National Oil Co. of the United Arab Emirates has leased the second compartment at the Mangalore SPR. During this fiscal year, which runs through March 31, 2024, the Indian government has set aside 50 billion rupees (about $611.40 million) for its strategic oil imports. According to the source, India will need to purchase around 13 million barrels of oil overall for the SPR because another SPR would run out of fuel later this year. A2.7 MW solar project at the Indian Oil Corporation Ltd (IOCL) refinery in Panipat, Haryana, according to Oriana Power, has been put into operation. According to a statement from Oriana Power, the project was finished in a record-breaking three months for Indian Synthetic Rubber Private Ltd (ISRPL), a partnership between IOCL and Trimurti Holding Corporation. At the IOCL refinery in Panipat, Haryana, Oriana Power announced the successful commissioning of a 2.7 MW single rooftop solar power plant. Through this initiative, we not only assist the Haryana government in achieving its goals for renewable energy, but we also help the state's efforts to reduce its carbon footprint and advance sustainable development."The project is expected to increase energy efficiency in the state and create employment opportunities within the local communities, thereby contributing to the local economy and livelihood," stated Anirudh Saraswat, Co-Founder and Chief Business Officer of Oriana Power. For its industrial and commercial clients, Oriana Power, one of India's top suppliers of solar energy solutions, funds, develops, and manages solar projects. TOP STORIES INDIA INTENDS TO DELIVER 5.5 MILLION BARRELS OF OIL TO MANGALORE SPRORIANA POWER COMMISSIONS 2.7 MW SOLAR INSTALLATION AT IOCL REFINERY IN HARYANAJUNE 20239
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