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India urgently expands oil storage amid mounting geopolitical risks

IndiaTimes Thursday, 4 January 2024
India prioritizes and accelerates efforts to expand oil storage capacity to mitigate geopolitical risks and accommodate increasing refining capacity. The country faces vulnerabilities in the energy supply chain, particularly in regions like the Red Sea and the Middle East. To enhance energy resilience and reduce external dependencies, India needs a comprehensive strategic plan. The International Energy Agency (IEA) recommends maintaining oil stocks equivalent to at least 90 days of net imports, a benchmark India falls short of. Steps have been taken to address this shortfall, including the implementation of Strategic Petroleum Reserves (SPRs).
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News video: UN Says Global Food Prices for Many Staples Fell in 2023

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UN Says Global Food Prices , for Many Staples , Fell in 2023. On January 5, the U.N. Food and Agriculture Organization reported that global prices for some commodities fell last year from record highs reached in 2022. ABC reports that the FAO Food Price Index for 2023 was 13.7% lower than the...

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Middle East Middle East Geopolitical region

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Credit: euronews (in English)    Duration: 01:15Published
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Red Sea Red Sea Arm of the Indian Ocean between Asia and Africa

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Credit: Oneindia    Duration: 03:43Published
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International Energy Agency International Energy Agency Autonomous intergovernmental organisation

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Credit: euronews (in English)    Duration: 08:00Published

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