Afghanistan, July 11 -- India has approved a plan to expand its strategic petroleum reserves by 1.75 million metric tonnes, aiming to bolster energy security as disruptions in the Strait of Hormuz raise concerns over global oil supplies.
India's state-owned Oil and Natural Gas Corporation (ONGC) announced on Friday, July 10, that its board had approved a project to expand the country's strategic petroleum reserves by 1.75 million metric tonnes, describing the initiative as a project of national importance.
The additional storage capacity is intended to strengthen India's emergency oil reserves and improve the country's ability to respond to supply disruptions caused by geopolitical tensions or interruptions to international shipping route...