CryptoWorld News: India will collaborate with the United Arab Emirates to expand strategic crude oil and natural gas reserves, an important move by the world's third-largest oil consumer to address future supply disruption risks. According to a statement from Abu Dhabi National Oil Company (ADNOC), the company will consider significantly increasing crude oil storage capacity in India, aiming to raise it to 30 million barrels. The two countries will also cooperate to establish strategic natural gas reserves in India and explore building crude oil storage facilities at the port of Fujairah outside the Strait of Hormuz. This preliminary agreement was announced during Indian Prime Minister Modi's brief stopover in Abu Dhabi while en route to Europe.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned