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Terminal News

New storage facility planned for Mangalore

A new strategic oil storage facility will be built in Mangalore following a long-term agreement between India and Dubai.

At a press conference, union petroleum and natural gas minister Dharmendra Pradhan said that the facility will ensure long-term partnership for strategic storage in Mangalore.

He said that30 contracts are being signed between the two countries in 60 oil fields, with a resource potential of 196 metric tonnes of oil and oil equivalent.

He added that the government will build 86 gas distribution areas covering 24% of India's area and 29%of the population of the entire country.

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