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India planned to create its first overseas oil stockpile in which country?
  • a)
    United States
  • b)
    Germany
  • c)
    Russia
  • d)
    Iceland
  • e)
    Maldives
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
India planned to create its first overseas oil stockpile in which coun...
The U.S. Department of Energy (DOE) and the Indian Ministry of Petroleum and Natural Gas signed MOU to begin cooperation on Strategic Petroleum Reserves operation and maintenance, including exchange of information and best practices. This MoU was based on a proposal from the US after the recent historic drop in oil prices during the coronavirus pandemic. It is to be noted that for the first time, India, the world’s third-largest oil guzzler, is planning to create an emergency reserve of oil in the U.S. Strategic Petroleum Reserve to take advantage of low prices and to increase its strategic oil stockpile.
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India planned to create its first overseas oil stockpile in which country?a)United Statesb)Germanyc)Russiad)Icelande)MaldivesCorrect answer is option 'A'. Can you explain this answer?
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