India is set to receive its first ever crude oil consignment for storing in the newly built strategic oil reserve at Mangaluru as India’s petroleum minister Dharmendra Pradhan and Abu Dhabi National Oil Company’s (Adnoc) chief executive officer Sultan Al Jaber will flag off the first vessel from the Persian Gulf country on Saturday. The very large crude container (VLCC) headed for the Indian shore will be carrying 2 million barrels of crude oil, according to sources. India and Adnoc had in February 2018 signed an agreement wherein the latter agreed to fill 0.75 million tonne (MT) of crude oil at the Mangaluru facility which has a capacity of 1.5 MT. It will take three such VLCCs to fill the agreed quantity given 5.86 million […]