To make the best use of the low international crude prices, public sector oil companies, including Mangalore Refinery and Petrochemicals Ltd. (MRPL) and Indian Strategic Petroleum Reserve Limited (ISPRL), have been filling ISPRL’s caverns at Mangaluru and Udupi (Padur) with crude oil. ISPRL is also filling its caverns at Vishakapatnam.
Indian Strategic Petroleum Reserves Limited is an Indian company responsible for maintaining the country’s strategic petroleum reserves. ISPRL is a wholly owned subsidiary of the Oil Industry Development Board, which functions under the administrative control of the Ministry of Petroleum and Natural Gas.
Strategic reserves are also being set up at Chandikhole in Odisha.