Indian Strategic Petroleum Reserves Limited (ISPRL) has signed an MoU with the Abu Dhabi National Oil Company (ADNOC). The MoU explores the possibility of storing crude oil supplied by ADNOC at ISPRL’s underground oil storage facility at Padur in Karnataka. The Padur facility has a 2.5 million tonne (mt) capacity. ADNOC is the only foreign oil and gas firm so far to invest in crude storage for building India’s strategic petroleum reserves.
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