India To Invite Bids To Fill South Indian Oil Storage

India looks forward to inviting bids in three to four months to fill a storage facility in southern India with 19 million barrels of oil, the chief executive of Indian Strategic Petroleum Reserve Ltd said. The company will be inviting bids for crude oil, for the Padur strategic petroleum reserve in the southern state of Karnataka which can hold 2.5 million tonnes of oil, Chief Executive H.P.S. Ahuja said.

India has strategic petroleum storage facilities at three locations in southern India with a combined capacity of 5.33 million tonnes. The Padur site is located about 5 km (3 miles) from the coast and 40 km from Mangalore Refinery and Petrochemicals Ltd’s refinery.