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Adnoc Signs Two Deals with Indian Partners on Further Energy-focused Collaboration

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Abu Dhabi National Oil Co, or Adnoc, signed two strategic collaboration agreements with Indian energy partners covering crude, liquefied natural gas and liquefied petroleum gas supply as well as energy storage opportunities.

The Abu Dhabi state-owned oil producer said Friday its agreement with Indian Strategic Petroleum Reserves Ltd. includes potentially expanding its crude oil storage in India to up to 30 million barrels, including an existing one at Mangalore and via new sites at Vishakhapatnam and Chandikol. The deal also looks into the possibility of storing Indian strategic petroleum reserves in Fujairah, as well as potential LNG and LPG storage opportunities within India.

Separately, Adnoc's agreement with Indian Oil Corp. builds on the companies' existing LPG term contract since 2023 and aims to explore expanding supply of the gas and trading opportunities, including through Adnoc Global Trading.

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