Strategic petroleum reserves get Rs 5,597 crore allocation boost in Budget

Q: How long will it take to read this news story?

The story "Strategic petroleum reserves get Rs 5,597 crore allocation boost in Budget" has 860 words across 31 sentences, which will take approximately 4 - 8 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Strategic petroleum reserves get Rs 5,597 crore allocation boost in Budget" was covered 10 hours ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 176 news stories per day. It's most recent story was published 2 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #25721250</li><li>URL: https://chronographically.beamstart.com/news/strategic-petroleum-reserves-get-rs-17384938416759</li></ul>

Business Standard Logo Business Standard 10h ago

Strategic petroleum reserves get Rs 5,597 crore allocation boost in Budget - Business Standard

Quick Summary:

Last year, the Abu Dhabi National Oil Company (ADNOC) signed a memorandum of understanding with ISPRL to explore additional opportunities for crude storage in India and renew their storage and management agreement.

Budget 2023 (for FY24) had earmarked a capital outlay of Rs 30,000 crore for priority capital investments in energy transition, energy security, and achieving net zero emissions by 2070.

In addition, oil marketing companies (OMCs) in the country have storage facilities for crude oil and petroleum products for 64.5 days.