India, UAE Expand Strategic Oil Reserve Ties as ADNOC Could Store 30 Million Barrels
India and the United Arab Emirates signed agreements on energy, defence and shipping during Prime Minister Narendra Modi’s visit, with the energy package centered on expanding cooperation on strategic crude and gas reserves. ADNOC entered a strategic partnership with Indian Strategic Petroleum Reserves Limited to collaborate on crude oil, LNG and LPG storage and strategic reserves, and signed a separate deal with Indian Oil Corp. to explore more LPG supply and trading opportunities.
The arrangement could allow ADNOC to store up to 30 million barrels of crude inside India’s strategic petroleum reserves. The move would deepen energy ties between the two countries and help India, the world’s third-largest oil consumer, guard against future supply disruptions.
From the sources (14 posts)
@businessIndia will partner with the United Arab Emirates to expand its strategic crude and gas reserves, a key step for the world’s third-largest oil consumer to guard against future supply disruptions.
@firstsquawkADNOC HAS AGREED TO INCREASE INDIA'S STRATEGIC CRUDE OIL RESERVE TO 30 MILLION BARRELS.
@firstsquawkINDIA AND UAE'S OIL AGREEMENT COULD RAISE ADNOC’S CRUDE OIL STORAGE IN INDIA TO 30 MILLION BARRELS, ACCORDING TO ADNOC'S ANNOUNCEMENT.
@reutersIndia signs agreements with UAE on defence, energy during Modi visit
@firstsquawkADNOC AND INDIA ARE DISCUSSING AN OIL AGREEMENT THAT INCLUDES POSSIBLE CRUDE STORAGE IN FUJAIRAH FOR INDIA'S STRATEGIC PETROLEUM RESERVE.
@firstsquawkADNOC IS DISCUSSING A DEAL THAT INCLUDES CRUDE OIL STORAGE IN FUJAIRAH FOR INDIA'S STRATEGIC PETROLEUM RESERVE.
@firstsquawkADNOC WILL DISCOVER NEW LPG SUPPLY AND TRADING OPPORTUNITIES WITH INDIAN OIL CORP.
@firstsquawkADNOC HAS ENTERED AGREEMENTS FOR STRATEGIC PARTNERSHIP WITH INDIAN STRATEGIC PETROLEUM RESERVES LIMITED TO COLLABORATE ON CRUDE OIL, LNG, AND LPG STORAGE, ALONG WITH STRATEGIC RESERVES.
@firstsquawkADNOC HAS SIGNED A STRATEGIC COLLABORATION DEAL WITH INDIAN OIL CORPORATION TO EXPLORE MORE LPG SUPPLY AND TRADING OPPORTUNITIES.
@firstsquawkADNOC AND INDIA SIGN STRATEGIC DEALS IN ENERGY IN FRONT OF UAE PRESIDENT AND INDIAN PRIME MINISTER.
@firstsquawkADNOC MAY RAISE CRUDE OIL STORAGE IN INDIA TO 30 MILLION BARRELS, INCLUDING CURRENT STORAGE IN MANGALORE.
@trtworldIndian PM Modi calls for an "open and safe" Strait of Hormuz during a brief visit to the UAE, overshadowed by New Delhi's energy and supply-chain worries due to the Iran war
@jackprandelli🚨 🇮🇳🇦🇪 India and the UAE just agreed on a framework that could allow ADNOC to store up to 30 million barrels of crude inside India’s strategic petroleum reserves. The structure is important: • 🇦🇪 UAE pays for the storage • 🛢 ADNOC keeps ow
@ajenglishThe United Arab Emirates and India have signed pacts on defence, energy and shipping during PM Narendra Modi’s visit to the country on Friday, as both countries seek to deepen their relationship amid heightened tensions between Abu Dhabi an