UAE eyes crude storage opportunity in India

摘要

The United Arab Emirates has proposed using India's strategic crude reserves facility to store its oil, in a move that would help the Middle Eastern exporter expand its footprint in one of Asia's leading oil consuming countries. The Press Trust of India quoted Indian oil minister Dharmendra Pradhan as saying the Abu Dhabi National Oil Company, or ADNOC, had offered to use half the capacity at the reserve facility in Mangalore, which would have a total capacity of 1.5 million mt, or 11 million barrels, when commissioned.