India and South Africa Boost Oil Reserves | Business and Finance News

Global energy uncertainty is pushing India and South Africa to massively expand their oil reserves. India is building a giant new storage facility in Mangalore, targeting 13 million barrels, and plans to double its emergency capacity with underground caverns and new sites — bringing its total reserves closer to the international 90-day safety standard. Meanwhile, South Africa, reliant on imports after shutting down much of its refining, is mandating private companies to hold commercial fuel stockpiles while the government builds its own strategic buffer — a smart hedge against volatile global markets. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/18fe79b2f601ad0f