India saves Rs 5,000 crore on filling strategic oil reserves

India saves Rs 5,000 crore on filling strategic oil reserves

India saves Rs 5,000 crore on filling strategic oil reserves While the 5.33 million tonnes of emergency storage -- enough to meet India#39;s oil needs for 9.5 days -- was built in underground rock caverns in Mangalore and Padur in Karnataka and Visakhapatnam in Andhra Pradesh by the government, state-owned oil firms were in April asked to buy import oil when global rates fell to a two-decade low.