Abu Dhabi to start strategic oil filling in Mangalore in April

Dubai: Abu Dhabi National Oil Company (ADNOC) will send three large ships carrying crude oil beginning April to fill half of the 1.5 million tonnes strategic oil reserves India has built in Mangalore.

ADNOC sources said that the company last week signed an agreement with India to use half of the underground storage built at Mangalore as part of emergency stockpile.

ADNOC has indicated its oil consignment for next two months are booked and it would start filling the Mangalore storage it has taken from April.

The company would take three very large crude carriers to fill 5.86 million barrels or 0.75 million tonne of space it has taken in Mangalore. The storage would be filled by May.

ADNOC had last year given up its crude storage lease in South Korea and instead agreed to store oil at Mangalore in a bid to establish ground presence in India.

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