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The Indian government is considering setting up three additional strategic oil reserves, in Bikaner (Rajasthan), Mangalore (Karnataka) and Bina (Madhya Pradesh), to increase its emergency stockpile and enhance energy security.
As the world’s third-largest importer and consumer of oil, India overwhelmingly relies on overseas sources for over 80% of its crude requirements. To reduce supply shocks from geopolitical tensions across the world, India continues to diversify its crude import sources.
