The United Arab Emirates (UAE) and India, one of the world’s fastest-growing economies and a large petroleum importer, are looking to expand their total trade by a considerable 60 per cent over the next five years.
8According to UAE official, it is looking to invest around $75 billion in India and establish an infrastructure investment fund to support India.
8UAE has also put forward its intentions to help India fill its strategic petroleum reserves, which India has already started in Visakhapatnam, with a capacity of 9.75 million barrels.
8India is also planning to commission two more sites later this year, taking the total capacity to 38.85 million barrels.
8In order to scale up its petroleum reserves, in second stage India will be aiming to add another 91.63 million barrel to its strategic petroleum reserves.
8In the last financial year, India imported 320,000 barrel per day of crude oil which is 8.5 per cent of India’s total imports.
8The relation between India and UAE is likely to get stronger in the years ahead.
For more details visit indianpetroplus.com
8According to UAE official, it is looking to invest around $75 billion in India and establish an infrastructure investment fund to support India.
8UAE has also put forward its intentions to help India fill its strategic petroleum reserves, which India has already started in Visakhapatnam, with a capacity of 9.75 million barrels.
8India is also planning to commission two more sites later this year, taking the total capacity to 38.85 million barrels.
8In order to scale up its petroleum reserves, in second stage India will be aiming to add another 91.63 million barrel to its strategic petroleum reserves.
8In the last financial year, India imported 320,000 barrel per day of crude oil which is 8.5 per cent of India’s total imports.
8The relation between India and UAE is likely to get stronger in the years ahead.
For more details visit indianpetroplus.com
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