The government told Parliament the project will be fully funded by ONGC, while work on the 4 MMT Chandikhol strategic reserve in Odisha moves to the bidding stage.

ONGC will reserve half of its planned 1.75 million-tonne Mangaluru oil storage for India's strategic reserves, boosting energy security and crude storage.

India's Oil and Natural Gas Corp will reserve half of its planned oil storage. This new facility will meet the country's strategic petroleum needs. India is expanding its…