• SENSEX
    NIFTY 50
Commodities

Indian Oil signs first annual deal for US oil

Updated : February 18, 2019 01:10 PM IST

IOC is the first Indian state refiner to buy US oil under an annual contract, in a deal that will also help boost trade between New Delhi and Washington.
The company has previously purchased US oil from spot markets and signed a mini-term deal in August to buy 6 million barrels of US oil between November and January.
Indian Oil buys about 75 percent of its oil needs through long-term deals, mostly with OPEC nations.
Indian Oil signs first annual deal for US oil
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

You May Also Like

Live TV