India expands crude imports with UAE emerging as a major supplier
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“India expands crude imports with UAE emerging as a major supplier”
India has expanded its crude oil imports to about 43 countries amid disruption to supplies through the Strait of Hormuz, with the UAE emerging as one of its major suppliers, a senior official said. Neeraj Mittal, the Secretary of India's Ministry of Petroleum and Natural Gas, said that, while Russia continues to be the top oil supplier to the South Asian nation, India has also started importing from other countries such as Venezuela. “India has really taken long-term measures in terms of…
Read at The National“How the UAE became one of India’s biggest oil suppliers”
Dubai: The MT Inspiration took on two million barrels of Abu Dhabi crude in May 2018. Its destination was an underground cavern in Mangalore, on India’s west coast, where the oil would help fill a stockpile India could draw on in an emergency. The shipment was the first under a deal that gave Abu Dhabi National Oil Company (ADNOC) room to store 5.86 million barrels in India at its own cost. Eight years later, the two countries are considering an arrangement in the other direction. In May 2026,…
Read at Gulf NewsWhat the reports add
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