India allows UAE's Adnoc to export stored crude oil from Mangalore's strategic facilities.
India's government has permitted UAE's Adnoc to export stored crude oil from Mangalore's strategic storage facilities. Although crude oil exports are typically restricted to state-owned Indian Oil Corporation, Adnoc has been exempted, allowing them to re-export their stored crude oil at their expense. India, the world's third-largest oil importer, has built strategic oil storage reserves at three locations to ensure oil supply security.
March 23, 2024
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