According to CoinMeta, India's largest oil exploration company, Oil and Natural Gas Corporation of India (ONGC), plans to invest 70 billion rupees (about $736 million) in building strategic crude oil reserves to enhance the country's capacity to cope with supply disruptions. The company's chairman, Singh, stated that the land for the project has been acquired and construction is about to begin, with a storage capacity of around 13 million barrels of crude oil. In addition, ONGC is in talks with international companies, planning to establish an overseas trading platform for crude oil, refined products, and natural gas, with the goal of trading 50 million tons of crude oil, petroleum products, and natural gas annually.