India to provide $647 million to support strategic reserve oil purchases in 2025-26
- Posted on February 1, 2025
- By Business News Today
- 5 Views
India to provide $647 million to support strategic reserve oil purchases in 2025-26
India has allocated 55.97 billion rupees ($646.78 million) to support oil purchase for its strategic petroleum reserves. The country aims to increase its SPR capacity to safeguard against global supply disruptions, with plans to construct new facilities in Karnataka and Odisha.
