UAE to store up to 30 million barrels in India’s oil reserves
India and the United Arab Emirates have signed a major energy agreement following Prime Minister Narendra Modi’s visit to the Gulf nation. Under the deal, the UAE will store up to 30 million barrels of crude oil in India’s strategic petroleum reserves.
The agreement is being viewed as an important step towards strengthening India’s long-term energy security, especially amid rising instability in West Asia and concerns over possible disruptions in global crude oil supplies.
As part of the arrangement, crude oil from Abu Dhabi will be stored in India’s emergency petroleum reserve facilities, enabling faster access to supplies during market disruptions or international crises. The pact is also expected to deepen energy cooperation between India and the UAE, one of India’s key oil suppliers.
Officials believe the agreement will help India prepare for sudden increases in global oil prices and potential supply interruptions caused by regional conflicts or shipping disruptions. The development comes at a time when uncertainty in West Asia continues to affect global energy markets.
India and the UAE have significantly expanded cooperation in recent years across sectors such as energy, infrastructure, trade and investment. The latest oil storage pact further highlights the growing strategic partnership between New Delhi and Abu Dhabi, while reinforcing India’s efforts to secure stable and reliable energy supplies for the future.
