India receives first consignment of oil from UAE for its strategic petroleum reserves

India received the first consignment of 2 million barrels of crude oil for the strategic petroleum reserve at Mangalore from the United Arab Emirates (UAE) on May 15, 2018. This is expected to help the current situation of supply-side disruption. The cargo was the first to be shipped under an agreement between the Abu Dhabi National Oil Company and Indian Strategic Petroleum Reserves Limited.