Government will partly fill Mangalore Strategic Reserve with UAE Oil
Wednesday, January 25, 2017, 6:05 PM
UAE’s Abu Dhabi National Oil, has agreed to store 6 Million barrels of oil at Mangalore. The Government has signed a deal with UAE, to fill half of an underground crude oil storage facility at Mangalore. This is part of New Delhi’s strategic reserve system. This is to hedge against India’s energy security risks, as India imports most of its oil needs.