Indian Oil Corp. Ltd. purchased its first Colombian oil under an optional supply deal with state oil company Ecopetrol, two people familiar with the matter said, as India’s top refiner seek to diversify from Russian oil imports. An Indian Oil fuel station in Bengaluru. The state-run refiner has an optional contract to buy about 12 […]
India is set to curtail its Russian oil imports to comply with new US sanctions on two top Moscow-backed producers, Reuters reported on Thursday citing sources. That potentially removes a major hurdle to the India-US trade deal that’s been in the works for months. India imported 1.7 million barrels per day of Russian crude in […]
India’s Russian oil imports could drop as refiners led by Indian Oil Corp. Ltd. wait for official guidance from New Delhi after US President Donald Trump said Prime Minister Narendra Modi had committed to stop taking the crude. Russian oil has accounted for roughly a third of India’s crude imports so far this year. (Reuters) […]
