India to fill strategic reserve facility at Mangaluru with oil from UAE
India signed a deal with the
United Arab Emirates that allows the Gulf nation to fill half of an underground
crude oil storage facility at Mangaluru that is part of New Delhi’s strategic
reserve system.
Details:
- UAE’s Abu Dhabi National Oil Co. (ADNOC) will store
about six million barrels of oil at Mangaluru, taking up about half of the
site’s capacity.
- This will...help to ensure India’s energy security
and enable us to meet the nation’s growing demand for energy
- India has already filled the other half of the
Mangaluru storage in Karnataka state with six million barrels of Iranian
oil.
India, the world’s
third-biggest oil consumer, has also filled a Vizag storage site in southern
Andhra Pradesh with 7.55 million barrels of Iraqi oil and has invited bids from
suppliers to fill an 18.3 million-barrel facility at Padur in Karnataka.
