'₹15k cr sought for 2nd phase of oil reserves'
Oil Minister Dharmendra Pradhan on Thursday said that the petroleum ministry has sought ₹15,000 crore ($2.2 billion) from the finance ministry to build the second phase of India's strategic petroleum reserves. In the first phase, crude oil storage of five million metric tonnes was planned by the government. Strategic storage reserves are underground rock caverns used to store crude oil. 