India-UAE energy deal: UAE to store up to 30 mn barrels in Indian reserves amid Hormuz crisis

The UAE will store up to 30 million barrels of crude oil in India’s Strategic Petroleum Reserve, according to Foreign Secretary Vikram Misri after Prime Minister Narendra Modi’s visit. Misri said the step is part of a broader set of energy agreements between Indian companies and UAE entities, especially the Abu Dhabi National Oil Company, and is aimed at strengthening India’s energy security.