2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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India has signed a deal with which country for strategic oil reserves storage
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Russia
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Canada
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USA
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UAE
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Explanation:
Detailed explanation-1: -As part of the efforts of the GoI to commercialize the Phase-I of Strategic Petroleum Reserves, Abu Dhabi National oil Company (ADNOC), National Oil Company from UAE, joined the SPR programme. The agreement was implemented with ADNOC storing about 0.8 MMT of crude oil in Mangalore.
Detailed explanation-2: -India imports about 85 per cent of its crude oil requirements. Crude oil from the reserves are to be released by an empowered committee constituted by the government, in the event of any supply disruptions from abroad.
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