The UAE will store up to 30 million barrels of crude oil in India's strategic petroleum reserves following Prime Minister Narendra Modi's recent visit to Abu Dhabi.
The Ministry of External Affairs described the UAE as an important partner in India's energy security. Officials confirmed that both nations have agreed to launch new initiatives for a comprehensive energy partnership. This partnership will cover supplies of crude oil, liquefied natural gas and liquefied petroleum gas.
The agreement builds on existing cooperation between Indian Oil Corporation and ADNOC. It focuses on expanding storage capacity in India's reserves to enhance supply stability.
The deal aims to strengthen ties in energy trade and infrastructure development between the two countries.
