Indian Oil Corp, the country’s top refiner, has signed its first annual deal to buy up to 3 million tonnes or 60,000 barrels per day of U.S. oil, its chairman Sanjiv Singh said on Monday.
State-run IOC had previously purchased U.S. oil from spot markets and signed a mini-term deal in August to buy 6 million barrels of U.S. oil between November to January.
Singh said the annual contract will begin from April. He declined to give the name of the seller and pricing details citing confidentiality. Read More
Latest posts by ET Energy World (see all)
- Goa: Solution to coal issue after polls, says panchayat minister - April 20, 2019
- Climate Change can affect energy, food and water security: ExpertClimate Change can affect energy, food and water security: Expert - April 20, 2019
- Oil prices little changed despite Saudi export cuts, US stocks draw - April 19, 2019