Government of India allows ADNOC to re-export crude oil from Mangalore Reserve

Government of India allows ADNOC to re-export crude oil from Mangalore Reserve

Daily Current Affairs   /   Government of India allows ADNOC to re-export crude oil from Mangalore Reserve

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Category : Business and economics Published on: March 29 2024

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  • The Government of India allowed Abu Dhabi National Oil Company (ADNOC) to re-export crude oil from Mangalore Reserve.
  • Indian Strategic Petroleum Reserves Limited has leased half of the 1.5 million tonnes capacity in Mangalore storage to ADNOC.
  • The Government of India has allowed AMI to re-export the stored oil at its own cost.
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