The Economic Times

Iran war shock: Govt asks ONGC to build 15,000 crore strategic oil reserve at Mangaluru

India plans to boost its oil security. Oil and Natural Gas Corporation, ONGC, will build a new strategic petroleum reserve facility in Mangaluru. This project will significantly increase the nation's emergency crude storage capacity. The government aims to strengthen energy security following past supply disruptions. This move marks a new approach with a state-run company developing such a reserve.