India energy security

UAE to Store 30 Million Barrels Crude Oil in India’s Strategic Reserve

India and the United Arab Emirates have agreed to a significant energy partnership, with the UAE set to store up to 30 million barrels of crude oil in India’s Strategic Petroleum Reserve. This collaboration aims to bolster India’s energy security amidst global supply vulnerabilities. Beyond oil reserves, both nations committed to exploring strategic gas reserves and long-term LPG supplies, underscoring a comprehensive energy strategy. The agreement was reached during Prime Minister Modi’s visit to Abu Dhabi, which also featured discussions on regional stability and secure trade routes.

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India Denies Trump’s Claim of Russian Oil Import Halt

Amid claims by the US President that India would halt Russian oil purchases, India’s Ministry of External Affairs reiterated that ensuring energy security for its vast population remains the nation’s supreme priority. The government’s strategy centers on diversifying energy sources based on market conditions and evolving international dynamics, with all decisions being guided by this principle. India also affirmed its openness to sourcing oil from Venezuela and other nations based on commercial viability. Russian officials, meanwhile, expressed no reason to believe India would alter its energy cooperation with Russia, emphasizing the mutual benefits and stability it provides to the international energy market.

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