With increasing economic ties with India, the UAE has committed USD 75 billion towards infrastructure development in the country, the commerce ministry said today.
Even as the US-imposed sanctions on Iran has put India’s energy security in jeopardy, UAE Ambassador to India Ahmed Albanna has allayed fears of an oil shortage, saying his country as well as Saudi Arabia can fill in if supply from Iran is disrupted.
India and the United Arab Emirates (UAE) will on Monday ink an important Trilateral Agreement between Abu Dhabi National Oil Co (ADNOC), UAE’s ARAMCO and India’s Ministry of Petroleum and Natural Gas – that will expand India’s refining capacity.
UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan will visit six Indian cities and hold talks with External Affairs Minister Sushma Swaraj during his week-long India tour that will focus on boosting energy and trade cooperation.
United Arab Emirates (UAE) Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan will undertake first ever six-city India visit next week aiming at creating an energy bridge between Delhi-Abu Dhabi-Riyadh amid impending sanctions on Iran and volatility in global oil prices that has impacted consumers in South Asia’s biggest country.
Abu Dhabi National Oil Company (ADNOC) plans to invest $45 billion over the next five years to expand its refining and petrochemicals operations, it said on Sunday.
United Arab Emirates – Japanese Prime Minister Shinzo Abe on Monday praised the long relationship his energy-hungry nation has had with the United Arab Emirates, a crucial oil supplier, at the start of a Mideast tour.
India has blacklisted some of the UAE-based shipping recruiting agencies, which abandoned Indian seafarers stranded in Dubai for last 22 months.
Gulf Cooperation Council (GCC) consisting of Saudi Arabia, the United Arab Emirates (UAE), Qatar, Oman, Bahrain, and Kuwait remains central to India’s foreign policy.
Prime Minister Narendra Modi’s recent trip to the UAE has resulted in two agreements being signed that will strengthen India’s energy security, said Petroleum and Natural Gas Minister Dharmendra Pradhan.