India to Divert Imported Oil to Strategic Reserves, an Industrial Info Market Brief

India plans to completely fill its strategic petroleum reserve (SPR) by the third week of May by moving about 19 million barrels into the storage sites. The storage facilities at Mangalore and Padur are half-empty and there was some space available in the Vizag storage facility. The first shipload of 1 million barrels of crude oil from the United Arab Emirates (UAE) arrived at Mangalore on April 11. The remaining reserves will be filled by buying oil from Saudi Arabia, the UAE and Iraq.