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Indian Oil ramps up spot crude purchases as Middle East disruptions hit supplies
Supply disruptions in the Middle East have prompted Indian Oil Corporation (IOC) to overhaul its crude sourcing strategy, with the state-run refiner sharply increasing purchases from the spot market. The share of spot buying has risen from 50% to nearly 84%, IOC director (finance) Anuj Jain said on Saturday.
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thehindu.com
Indian Oil has crude supplies secured for entire August, most of September
Indian Oil secures crude supplies for August and most of September despite reporting a ₹2,661 crore net loss in Q2.
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economictimes.indiatimes.com
Indian Oil rules out shift from Gulf crude despite regional conflict
Indian Oil Corp will continue using Gulf crude, it said citing freight advantages and refinery configurations. The company anticipates no immediate supply disruptions, feeling…
