Representative image.
India and US Signs MoU Regarding Petroleum Reserve

A memorandum of understanding (MoU) was signed between India and the US as both countries come to a mutual decision of developing a strategic petroleum reserve. India is also in an advanced phase of discussion with storing crude oil in US to increase its stockpile. This comes as a result of the historic drop in oil prices during the Covid-19 Pandemic.

Sun, 19 Jul 2020 - 09:13 AM / by Atishay Jain

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