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.
John Q. Hosedrinker