Oil and Natural Gas Corporation Limited (ONGC) announced that its Board of Directors, in a meeting held on July 9, 2026, granted in-principle approval for the development of 1.75 Million Metric Tonnes (MMT) of Strategic Petroleum Reserves with associated facilities at Mangalore (Phase-I Extension). This project is considered of national importance and is being undertaken as per the directives of the Ministry of Petroleum and Natural Gas (MoP&NG). Furthermore, the Board has directed the company to engage with the Government of India to explore opportunities for broader commercial utilization of these reserves, along with the necessary regulatory support. The Board meeting commenced at 18:35 hrs and concluded at 20:35 hrs on the same day.
