A delegation from Abu Dhabi National Oil Company and Indian officials celebrated on Monday the unloading of the first crude cargo destined to the Indian Strategic Petroleum Reserves.
The first cargo of 2 million barrels of crude oil left Abu Dhabi earlier this month, in a ceremony attended by Dr Sultan Al Jaber, Minister of State and Adnoc Group chief executive and Dharmendra Pradhan, Indian Minister for Petroleum and Natural Gas.
The cargo, which was unloaded in the Karnataka oil storage facility in Mangalore, is the first in an agreement between Adnoc and ISPRL, an Indian government company mandated to store oil for strategic needs that will see a total of 5.86 million barrels of Adnoc crude oil stockpiled there.
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Read more:
Adnoc ships first cargo of crude to India's Isprl
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“Adnoc is already a trusted and reliable supplier of crude oil and refined products to many customers and partners in India, and we are proud to deepen this longstanding relationship through another important and strategic collaboration,” said Abdulla Al Dhaheri, Adnoc’s Director of Marketing, Sales and Trading in a statement.
The strategic reserve agreement comes on the heels of an announcement in February that an Indian consortium made up of ONGC Videsh, Indian Oil Co and Bharat Petro Resources was awarded a 10 per cent interest in Abu Dhabi’s new offshore Lower Zakum concession.
India currently imports 8 per cent of its oil needs from the UAE, which intends to use the storage facilities in Mangalore to meet market demand in Asia as a whole.
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
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Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
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Company%C2%A0profile
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THE SPECS
Engine: 3.5-litre supercharged V6
Power: 416hp at 7,000rpm
Torque: 410Nm at 3,500rpm
Transmission: 6-speed manual
Fuel consumption: 10.2 l/100km
Price: Dh375,000
On sale: now
Learn more about Qasr Al Hosn
In 2013, The National's History Project went beyond the walls to see what life was like living in Abu Dhabi's fabled fort:
Libya's Gold
UN Panel of Experts found regime secretly sold a fifth of the country's gold reserves.
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A second stash was said to have been held in Accra, Ghana, inside boxes at the local offices of an international human rights organisation based in France.
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%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
MATCH INFO
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COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
ASSASSIN'S%20CREED%20MIRAGE
%3Cp%3E%0DDeveloper%3A%20Ubisoft%20Bordeaux%0D%3Cbr%3EPublisher%3A%20Ubisoft%0D%3Cbr%3EConsoles%3A%20PlayStation%204%26amp%3B5%2C%20PC%20and%20Xbox%20Series%20S%26amp%3BX%0D%3Cbr%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
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25 visual effects (VFX) studios
2,150 VFX shots in a film with 2,500 shots
1,000 VFX artists
3,000 technicians
10 Concept artists, 25 3D designers
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Our legal consultant
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