Strategic Oil Reserves storgaes Current Affairs, GK & News

Strategic Oil Reserves storgaes  Current Affairs, GK & News

First Ship load of Crude Oil reaches India

On April 13, 2020, the first crude oil of 1 million barrels from UAE have reached India. The oil prices have declined by 60% since January, 2020. The prices are expected to rise with OPEC and Russia have come to terms to cut their production by 10%. Hence, this is the right time to fill ..

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India inks deal with UAE for strategic oil reserves storgae

India has signed a deal with United Arab Emirates (UAE), fifth biggest oil supplier as part of its quest for energy security and strategic reserve system. The deal allows UAE’s Abu Dhabi National Oil Co. (ADNOC) to fill half (about 6 million barrels of oil) of an underground crude oil storage facility at Mangaluru, Karnataka. ..

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