Commodities Indian state refiners near first annual deals to buy Russian oil Updated : January 22, 2020 09:22 AM IST India, the world's third biggest oil consumer and importer, which ships in over 80 percent of its needs, usually relies on the Middle East for the majority of its supply. Indian Oil Corporation, Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd are now moving towards signing deals for Russian oil. BPCL plans to raise its crude processing in 2020/21 by 1 million tonnes as operations at its Kochi and Bina refineries stabilize after an upgrade. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.