2. Necessity
Securing Energy Requirements
Shortfall in Domestic Supply 42 MT Vs 171.6 MT
Ensure uninterrupted oil supplies
Political Uncertainties
Geo-Politics
Source: BP Statistical Review of World Energy 2013
3. Existing Infrastructure
Phase 1: 5.33 MMT
1) Vishakapatnam:
1.33MMT
Almost Ready
2) Manglore:
1.5 MMT
December 2013
3) Pudur:
2.5 MMT
March 2013
Source: ISPRL Website
5. Problem Faced
Land Acquisition
Capital Involvement for crude (estimated ₹22500cr for 5MMT)
Sourcing of crude
Dollar Requirement and impact on CAD
6. Possible Way Ahead
Leasing of Reserves to Foreign Players
Storing crude in reserves of Foreign Countries
Using idle oil tank farms
Old defunct ULCC/VLCC