Iran-US war: Is there a scarcity of India's strategic oil reserves? Reports says, it won't last even for...
The Iran war has caused a significant spike in global crude oil prices. The closure of shipping through the Strait of Hormuz has affected a significant portion of the world's oil supply. There appears to be no sign of this conflict subsiding.
Iran-US war: Is there a scarcity of India's strategic oil reserves? Reports says, it won't last even for...
Crude oil supplies have become costlier due to the Iran war. The disruption of shipping through the Strait of Hormuz has led to a sharp rise in crude oil prices. 20% of the world's crude oil passes through this route, which is why it is considered the biggest disruption to oil supply in world history. This is a difficult time for India, which imports nearly 90% of its oil. India only has a strategic oil reserve for 9.5 days.
According to India Today report and in response to the RTI, the Ministry of Petroleum and Natural Gas stated that if imports are disrupted, India's strategic oil reserves can meet the country's crude oil needs for 9.5 days. India's Strategic Petroleum Reserve (SPR) programme was first approved on January 7, 2004 and the Indian Strategic Petroleum Reserve Limited (ISPRL) was formed on June 16, 2004 to implement it.
What is the capacity?
Currently, India's total SPR storage capacity is 5.33 million tonnes. India maintains strategic reserves at Visakhapatnam, Mangaluru, and Padur. Of these, Visakhapatnam has a capacity of 1.33 million tonnes, Mangaluru 1.5 million tonnes, and Padur 2.5 million tonnes. In a statement to the Rajya Sabha on March 23, 2026, the government stated that ISPRL has available crude oil reserves of approximately 3.372 million tonnes, representing approximately 64% of the total storage capacity. However, the government also stated that actual reserves vary depending on the stock and actual consumption, both of which are subject to change.
The RTI response also stated that in July 2021, the government approved the expansion of the SPR network. A 4 million tonne facility is being developed in Chandikhol, Odisha. An additional 2.4 million tonne capacity is also being developed in Padur, Karnataka. This total capacity of 6.5 million tonne is being developed under the public-private partnership model.
Who has how much oil?
According to media reports, Japan holds the world's largest strategic oil reserves. This country has approximately 470 million barrels, enough for 254 days of consumption. The United States has 415 million barrels of reserves. The UK has 8 million barrels of crude oil and 30 million barrels of refined products, enough to meet the country's 90-day needs. Germany, France, Spain, and Italy also have strategic oil reserves.
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