Mumbai, Jan 18 (Agencies):  A massive fire broke out at an Indian Oil Corporation (IOC) depot near Navi Mumbai on early Tuesday morning but was later doused, preventing loss of life.

"No one was injured in the fire," IOC Chairman B M Bansal told a new conference in New Delhi. Bansal said the fire was reported at around 1.30 am and was completely put out by 0730 hours.

The fire broke out around 1 am at the Indian Oil facility at Taloja industrial area near Mumbai, fire brigade sources said.

Twenty five to thirty fire engines were rushed to the spot and the blaze has been partially brought under control.

"The blaze began from containers containing lubricant oil. Thousands of drums with 200 litres capacity each, stored in the godown caught fire and it destroyed around 40,000 litres of lubricant oil," the official said.

The cause of the fire is yet to be ascertained. No casualties have been reported so far.

"The 1,800 kilolitre per month plant blends and fills lubricants in small cans and drums, besides filling speciality lubes.

It operates on single shift (8 am to 5 pm) and the plant was shut when the fire broke out," Bansal said adding the fire gutted a shed storing packed lubricants.

"All the other facilities of the plant including storage tank farms, manufacturing plant, laboratory and fire-fighting facilities are intact," he said.

Bansal said the fire was noticed by the security personnel deployed at the plant around 1.30 am and "preliminary reports indicate the cause of the fire could be due to an electrical short circuit."

"The exact cause of the fire and the extent of product loss will be assessed as soon as the cooling operations are completed," he said.

In October 2009, a fire had broken at an IOC depot near Jaipur and left 10 people dead.