India is quickly running out of space to store a swelling stockpile of fuel as every possible container - including those in the 66,000 pump stations nationwide - threatens to overflow.
Refiners in India, the world’s third-biggest oil consumer, have filled 95% of about 85 million barrels of fuel storage capacity, according to officials at three state-owned processors.
The virus-inflicted lockdown of more than a billion people has pummeled India’s appetite for key transportation fuels as travel and movement remains restricted in large swaths of the world’s second-most populated country.
Options to stash away unwanted barrels are fast running out globally. The world’s biggest independent oil storage company, Royal Vopak NV, said it has