Days before US sanctions targeting Iran’s oil trade take effect, Sanjiv Singh, Chairman and Chief Executive Officer (CEO) of India’s largest fuel retailer Indian Oil Corporation (IOC) has said unavailability of Iranian crude in the global market will be a tough situation not only for India but for the whole world.
He was interacting with the media on the company’s financial results for the quarter ended September.
IOC meets around 14 per cent of its crude oil requirement from Iran, around 9 Million Tonne (MT). Singh said the company has alternative options in the event of Iranian crude becoming unavailable. Read more
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