Strategic storage idea spreads to Asian subcontinent.

摘要

According to government sources in India, the government is in talks with the United Arab Emirates' Abu Dhabi National Oil Co. (ADNOC) over a deal that could help the county set up a crude stockpile to be held in reserve against emergencies. Initially, the sources said, India had planned to simply build the storage capacity and buy the crude to fill it, but the government is now taking interest in the deals that ADNOC has already struck with Japan and South Korea. Under those deals, the UAE company leases storage space from those governments, and in return grants the state priority access to the crude in the event of an emergency. "If we think there is an emergency we will draw down from the reserves and pay ADNOC the official selling price prevailing at the time of withdrawal," said one of the Indian government sources, explaining that at other times, ADNOC would conduct business as usual, selling the crude to Indian refiners.