Prime Minister Narendra Modi’s UAE visit delivers two energy pacts aimed at strengthening India’s fuel safety net. India’s IOCL agreed with ADNOC for expanded, long-term LPG shipments, building on the UAE’s role as nearly 40% of total LPG supply. In parallel, ISPRL and ADNOC will expand underground strategic crude storage, extending their 2018 Mangaluru partnership. The deals come as Strait of Hormuz disruptions raise global oil pressure, and the UAE’s OPEC+ exit helps enable direct contracts.
Dubai’s key ADNOC Gas processing complex is set to return to full capacity only by 2027, pushed back by attacks and wider Middle East instability. The operator reported a 15% income drop amid regional disruption and market pressures. Economists warn that a Strait of Hormuz blockade could rack up additional losses, delaying full restoration further.
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ADNOC has pledged $55 billion for new projects over the next two years, shortly after the UAE officially left OPEC. The announcement comes after decades of OPEC membership tied to Abu Dhabi’s role since 1967, highlighting how the UAE plans to reshape its energy strategy immediately following the cartel exit.
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