India, May 16 -- Prime Minister Narendra Modi's visit to the United Arab Emirates on Friday resulted in major economic and strategic developments, as India and the UAE signed a series of agreements focused on energy security, petroleum storage, and fuel cooperation.

One of the most significant outcomes of the visit was a plan that could allow the UAE to store up to 30 million barrels of crude oil from Abu Dhabi National Oil Company in India's Strategic Petroleum Reserve (SPR). The arrangement may include the existing storage facility at Visakhapatnam in Andhra Pradesh as well as future reserve projects planned in Chandikol, Odisha.

The two countries also explored the possibility of storing crude oil in Fujairah, UAE, under India's broad...