Oil Industry Development Board
India has begun the development of a strategic crude oil reserve sized at 37.4 million barrels (5,950,000 m3), enough for two weeks of consumption. Petroleum stocks have been transferred from the Indian Oil Corporation(IndianOil) to the Oil Industry Development Board (OIDB). The OIDB then created the Indian Strategic Petroleum Reserves Ltd (ISPRL) to serve as the controlling government agency for the strategic reserve.
Read more about this topic: Indian Oil Corporation
Famous quotes containing the words oil, industry, development and/or board:
“Opinions are to the vast apparatus of social existence what oil is to machines: one does not go up to a turbine and pour machine oil over it; one applies a little to hidden spindles and joints that one has to know.”
—Walter Benjamin (1892–1940)
“That some should be rich, shows that others may become rich, and hence is just encouragement to industry and enterprise.”
—Abraham Lincoln (1809–1865)
“The Cairo conference ... is about a complicated web of education and employment, consumption and poverty, development and health care. It is also about whether governments will follow where women have so clearly led them, toward safe, simple and reliable choices in family planning. While Cairo crackles with conflict, in the homes of the world the orthodoxies have been duly heard, and roundly ignored.”
—Anna Quindlen (b. 1952)
“This morning I threw up at a board meeting. I was sure the cat was out of the bag, but no one seemed to think anything about it; apparently it’s quite common for people to throw up at board meetings.”
—Jane Wagner (b. 1935)