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India and ADNOC Boost Strategic Oil Reserves to 30M Barrels on May 15

GateNews

2026-05-16 14:33:27

According to Jin10, on May 15, India and the Abu Dhabi National Oil Company (ADNOC) agreed to expand strategic crude oil and natural gas reserves. ADNOC said it would consider significantly increasing its crude oil storage in India to 30 million barrels, with the two countries also planning to establish strategic gas reserves and explore additional storage facilities. The preliminary agreement was announced during Prime Minister Narendra Modi’s brief stopover in Abu Dhabi.

Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.

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