ADNOC to store crude in Indian facility

India’s government and Abu Dhabi National Oil Co. have signed an agreement allowing ADNOC to store 5.86 million bbl of crude at an Indian Strategic Petroleum Reserves Ltd. underground facility in Mangalore, Karnataka.

The volume is about half the facility’s capacity.

ADNOC has similar agreements to store crude in the Kiire Oil Terminal in Kagoshima City, Japan, and in strategic storage in South Korea.