Dubai: The MT Inspiration took on two million barrels of Abu Dhabi crude in May 2018. Its destination was an underground cavern in Mangalore, on India’s west coast, where the oil would help fill a stockpile India could draw on in an emergency. The shipment was the first under a deal that gave Abu Dhabi National Oil Company (ADNOC) room to store 5.86 million barrels in India at its own cost.Eight years later, the two countries are considering an arrangement in the other direction. In May 2026, India’s prime minister’s office said New Delhi could hold part of its strategic oil reserve in Fujairah, where tankers can load outside the Strait of Hormuz. The same agreement opened the door for ADNOC to store up to 30 million barrels in India.The proposal reflects how far the trade has come. India was buying billions of dollars of UAE oil well before the Mangalore deal. Indian companies now have a stake in an Abu Dhabi oilfield, while the UAE has built an export route that gives buyers access to Abu Dhabi crude when shipping through Hormuz is disrupted.
