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.