12FEB2019 - NEWS - Abu Dhabi National Oil Company agrees to hire half of the strategic crude oil storage built at Padur in Karnataka, India

Abu Dhabi National Oil Company (ADNOC) has recently agreed to hire half of the 2.5 million tonnes underground strategic crude oil storage that India has built at Padur in Karnataka, making it second such deal by the UAE firm in the state. ADNOC will store oil in two of the four compartments of 0.625 million tonnes (MT) each. India has built 5.33 MT of emergency storage enough to meet its oil needs for 9.5 days, in underground rock caverns in Mangalore and Padur in Karnataka, and Visakhapatnam in Andhra Pradesh. It has allowed foreign oil companies to store oil in the storages on the condition that the stockpile can be used by New Delhi in case of an emergency.

Published by Editor - www.Livebunkers.com at 12-Feb-2019 06:53:40 [UTC] , contact editor at editor@livebunkers.com