All oil storages in India are full

Minister of Petroleum & Natural Gas of India Dharmendra Pradhan said that all available oil storage tanks in the country were completely full, NefteRynok reports.

He said that the capacities of both commercial storage facilities and the strategic reserve, which India was actively filling, run out of space, as fuel prices fell sharply. As a result, crude oil reserves reached 270 million barrels.

Commercial tanks contain 25 million tons of oil, 5 million in strategic reserves and 7 million in tankers, which are used as floating storage facilities.

India is the third largest purchaser of net oil importer in the world (after China and the USA). Last year, it acquired an average of 4.5 million barrels per day.

It was previously reported that due to a sharp decline in demand, there is no space in the largest oil storage facility.

Tags: oil, hydrocarbon production, gas imports, energy market, jet fuel, Asia, oil production, coronavirus, Oil refinery plant, foreign affairs, stocks, petroleum products, gasoline, infrastructure, energy sector, quarantine, pandemic, oil pipeline, COVID-19, energy security, oil companies, oil reserves

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