India is depositing crude oil in caves beneath the ground

New Delhi, Mar 11, 2020, Wednesday

Crude oil prices have risen to $ 30 a barrel because of the Corona virus and Saudi Arabia's prize war.

In the midst of all this, the Indian government is dumping millions of tonnes of crude oil into caves beneath the ground.

The Government of India's endeavor is to ensure that the emergence of crude oil with India does not eliminate any emergency.

There are already three such underground storage facilities in India. It was set up by the Vajpayee government in 1998. It has 53 million tonnes of oil deposited in it. It can last 12 days in India.

However, with the creation of a new facility in Karnataka and Orissa, there will be 65 lakh tonnes of oil consolidated.

Oil is not used where this storage facility is located. It will be used only when India's oil supply stops for some reason.