Synopsis India may adopt a China-like strategy for its oil reserves. Refiners could be required to hold significantly more crude oil. This move aims to protect the nation from future supply shocks. The proposal is in its early stages. Refiners might face substantial costs for storage and oil purchases. This policy could bolster India’s energy security. New Delhi: India is weighing a China-style policy to mandate domestic refiners to build and maintain significantly larger crude oil inventories to cushion the country against future supply disruptions such as those triggered by the Iran war, according to people familiar with the matter….
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