Aramco to keep 4.6 million barrels of oil in Indian strategic reserve

Saudi Aramco has signed an MoU with Indian Strategic Petroleum Reserves to store about 4.6 million barrels of oil at a strategic petroleum reserve in Karnataka's Padur. So far, Abu Dhabi National Oil Company is the only foreign company storing oil in India's strategic reserves. India has underground emergency storage in three locations with a capacity of 36.87 million barrels.