Published: Jul 08, 2014
Source: Emirates 24|7


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India, UAE discuss strategic oil storage lease

India is in talks to lease part of its planned strategic storage to United Arab Emirates' state oil company Adnoc, two government sources said, as New Delhi moves to protect its economy against crude price shocks and supply disruptions.

India, the world's fourth largest oil consumer, imports about 80 percent of its oil needs and is building emergency storage capacity to hedge against energy security risks - By Reuters. Read more>>>


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