India to create its first overseas oil stockpile in US

India is moving to store oil in the US, the first time world’s third-largest oil guzzler is creating an emergency reserve abroad to take adv... thumbnail 1 summary
India is moving to store oil in the US, the first time world’s third-largest oil guzzler is creating an emergency reserve abroad to take advantage of low prices and guard against possible supply disruptions. “We have signed an MoU to begin co-operation on strategic petroleum reserves. We are also in an advanced stage of discussion for storing crude oil in US," said oil minister Dharmendra Pradhan.

from The Times of India https://ift.tt/3jgF0TC

No comments

Post a Comment

Subscribe to: Post Comments (Atom)