23 March 2011 07:31 [Source: ICIS news]
Its strategic oil reserve now stands at 178m barrels, which includes the first phase capacity and additions of the second phase so far.
The country is also selecting sites for its third phase of storage capacity of around 350m barrels, the report said.
When all the three phases will start operation by 2020, the total storage capacity will reach 624m barrels, or enough to cover 90 days of net crude imports, as required by International Energy Agency, it added.
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