India and the United Arab Emirates agreed on 15 May 2026 to enhance energy cooperation through the storage of crude oil in India’s Strategic Petroleum Reserves

India and the United Arab Emirates agreed on 15 May 2026 to enhance energy cooperation through the storage of crude oil in India’s Strategic Petroleum Reserves

¨     India and the United Arab Emirates agreed on 15 May 2026 to enhance energy cooperation through the storage of crude oil in India’s Strategic Petroleum Reserves (SPR).

¨     Under the agreement, the UAE will be able to store up to 33 million barrels of crude oil in India.

¨     The understanding was linked to talks held in Abu Dhabi between Prime Minister Narendra Modi and UAE President Mohamed bin Zayed Al Nahyan.

¨     India’s Strategic Petroleum Reserve is a crude oil storage system developed for emergency supply management.

¨     Indian Strategic Petroleum Reserves Limited (ISPRL) manages India’s strategic crude oil storage facilities.

¨     India’s operational strategic storage sites are located at Visakhapatnam, Mangaluru, and Padur.

¨     Expansion projects at Chandikhol in Odisha are also under discussion.

¨     ISPRL signed a strategic cooperation agreement with Abu Dhabi National Oil Company (ADNOC).

¨     The agreement also includes cooperation related to strategic gas storage.

¨     Indian Oil Corporation and ADNOC are also part of a long-term LPG supply arrangement.

¨     Fujairah is a major oil storage and bunkering hub located on the Gulf of Oman.

¨     The India-UAE energy agreement also includes the possibility of storing Indian crude oil in Fujairah.