ECONOMY & INFRASTRUCTURE
Infrastructure Projects
ONGC Receives Approval to Build 1.75 MT Strategic Petroleum Reserve in Mangaluru
Oil and Natural Gas Corporation (ONGC) has greenlit the development of a 1.75 million tonne (MT) Strategic Petroleum Reserve (SPR) facility at Mangaluru, Karnataka.
This project holds national importance and is designed to significantly enhance India's overall energy security and emergency reserve capacities in times of global supply disruptions.
This reserve is a crucial part of Phase-II of the Strategic Petroleum Reserve Programme, which also targets new facilities in Chandikhol, Bina, Bikaner, and Padur.
India currently operates three active underground rock-cavern SPR facilities managed by the Indian Strategic Petroleum Reserves Limited (ISPRL).
This project holds national importance and is designed to significantly enhance India's overall energy security and emergency reserve capacities in times of global supply disruptions.
This reserve is a crucial part of Phase-II of the Strategic Petroleum Reserve Programme, which also targets new facilities in Chandikhol, Bina, Bikaner, and Padur.
India currently operates three active underground rock-cavern SPR facilities managed by the Indian Strategic Petroleum Reserves Limited (ISPRL).
Key Facts / Static GK
ISPRL: Indian Strategic Petroleum Reserves Limited
Current Operational SPRs in India: Mangaluru (1.5 MT), Padur (2.5 MT), Visakhapatnam (1.33 MT)
ONGC Headquarters: New Delhi
Current Operational SPRs in India: Mangaluru (1.5 MT), Padur (2.5 MT), Visakhapatnam (1.33 MT)
ONGC Headquarters: New Delhi
Practice Quiz — 13 July 2026
Q1. Which of the following Indian-origin individuals has NOT been appointed to the newly formed US Federal Reserve monetary policy task forces?
Answer: (D) Dr. Gita Gopinath — The three Indian-origin leaders selected to head the task forces are Dr. Raghuram Rajan, Prof. Raj Chetty, and Asha Sharma. Dr. Gita Gopinath is not part of this newly formed task force.
Q2. Which of the following locations is NOT proposed under Phase-II of India's Strategic Petroleum Reserve (SPR) Programme?
Answer: (B) Visakhapatnam — Visakhapatnam is an already operational SPR facility under Phase-I, not a proposed location under Phase-II. Phase-II locations include Chandikhol, Bina, Bikaner, Mangaluru, and Padur.
Q3. What is the target bilateral trade value set by India and New Zealand to be achieved by 2030?
Answer: (D) Rs 35,000 crore — Both nations have set a target to increase bilateral trade in goods and services to Rs 35,000 crore (approximately USD 4 billion) by the year 2030.
Q4. VOC Port Authority recently signed a three-year maritime MoU with which European port?
Answer: (B) Port of Antwerp-Bruges — V.O. Chidambaranar (VOC) Port Authority signed a Memorandum of Understanding (MoU) with the Port of Antwerp-Bruges International, Belgium.
Q5. The Carl Gustaf M4 rocket launchers, being acquired by the Indian Army, are developed by which defence company?
Answer: (C) Saab — The Carl Gustaf weapon system is designed and developed by Swedish defence leader Saab.
Keep Learning with PrepZen
Get daily current affairs, live mock tests, mistake bank, vocab builder & more — all free on your phone.