The government is set to amend a clause of the SEZ laws to allow it to build strategic petroleum reserves totalling five million metric tonnes in the SEZ notified areas without being bound by any export obligations. The amendment would waive the requirement to export oil from its reserves to be built in the notified SEZ areas. The Indian Strategic Petroleum Reserve Ltd, a wholly-owned subsidiary of the Oil Industry Development Board, is building strategic petroleum reserves of a total of five MMT in underground caverns at Visakhapatnam, Mang-lore, and Padur in Udipi district. The land for the project in Manglore, however, falls in the Manglore notified SEZ. According to a recent official communiqu