India to lease out half of Padur strategic oil storage to ADNOC - sources
"We will sign a memorandum of understanding with ADNOC to fill two compartments in Padur along the same lines as the Mangalore cavern," said one source with direct knowledge of the matter, declining to be named ahead of an official statement.
Indian Strategic Petroleum Reserves Ltd (ISPRL) will sign an initial agreement with ADNOC on Monday, Image source: Reuters