India, South Africa To Boost Their Strategic Petroleum Reserves

India, South Africa To Boost Their Strategic Petroleum Reserves By Alex Kimani - Jul 16, 2026, 5:00 PM CDT India and South Africa are expanding strategic petroleum reserves as global energy disruptions, including the Iran war and Strait of Hormuz risks, expose vulnerabilities in oil supply chains. India plans major SPR additions, including a 13-million-barrel ONGC facility and new underground caverns, more than doubling its government emergency crude storage capacity. South Africa is proposing a 36-million-barrel reserve system, with the state targeting 60 to 90 days of emergency stocks