India Looks to Expand Strategic Petroleum Reserve Sites

India has issued a tender to private companies to build and operate a new storage site for the Strategic Petroleum Reserve of the world’s third-largest crude oil importer. Indian Strategic Petroleum Reserve Limited (ISPRL), the state firm managing India’s government petroleum inventories, has issued a tender notice to private firms inviting them to bid for a storage site of 2.5 million metric tons at Padur for “commercial cum strategic petroleum reserves,” according to a tender notice seen by Reuters. The storage site would…