Indian Oil Corporation
Indian Oil Corporation
Indian Oil Corporation, Indian Oil Corporation is an Indian oil and gas company, the largest company in modern India.
Glob.Revenue, mln.USD
96620
Indian Oil Corp. resumed buying Russian crude oil delivered on a tanker owned by Sovcomflot PJSC, paving the way for a restoration of oil flows between Russia and India, after tightened US penalties had disrupted shipments.
The Company Statement
April 03, 2023
Signed new deal to import Russian oil but has paused spot purchases of Russian shipments that will arrive after the Dec 5, 2023 deadline. Russia's largest oil producer Rosneft (ROSN.MM) and India's top refiner Indian Oil Corp have signed a term agreement to substantially increase oil supplies and diversify oil grades delivered to India. Rosneft and Indian Oil Corp have yet to renew an oil supply deal that expired in March 2024 after they failed to agree on price and volumes, forcing India's top refiner to return to spot markets. IOC and Rosneft could still sign the deal if they can agree on terms, but in the meantime the Indian firm will buy Russian oil on spot markets.
| December 24, 2024 | Indian state refiners may buy Mideast spot oil to replace Russian shortfall |
| December 23, 2024 | India’s State Oil Refiners Struggle to Get Russia Crude Supplies |
| May 02, 2024 | India Top Refiner Resumes Trade on Russian Sovcomflot Ships |
| April 02, 2024 | Indian Oil Corp set to tap spot oil market as Russian term deal lapses |
| March 26, 2024 | Indian refiners buy more US crude as Russia sanctions tighten |
| March 22, 2024 | India Halts Russia Oil Supplies From Sanctioned Tanker Giant |
| March 19, 2024 | India buys more oil from the US: strengthened sanctions control curbs flows from Russia |
| March 06, 2024 | India Cautious on Contracted Russian Oil as US Sanctions Bite |
| February 27, 2024 | OMC stocks off highs after Russia bans petrol exports for 6 months; IOC, HPCL down 3% |
| February 20, 2024 | Difficulties have arisen in the Russian Federation with the sale of oil to India: 9 million barrels are blocked |
| February 09, 2024 | Indian companies are negotiating oil supplies from Russia |
| January 31, 2024 | Tankers with Sokol oil of the Sakhalin-1 project began moving towards the shores of India |
| January 10, 2024 | India decided to buy Saudi oil instead of Russian |
| December 27, 2023 | Payment woes delay supply of Russian Sokol oil to India -sources |
| October 16, 2023 | Exclusive: As India frowns on paying for Russian oil with yuan, some payments held up |
| September 14, 2023 | Indian oil firms want their $600 million stuck in Russia to be used for payments to Moscow |
| July 05, 2023 | Former IOC director joins Rosneft board in sign of Russian oil pivot |
| July 03, 2023 | Russian oil deliveries to India break records for ten months in a row |
| June 23, 2023 | Cocoa Products Exports into Russia |
| March 29, 2023 | Russia's Rosneft signs deal to boost oil supplies to India |
| February 18, 2023 | Key oil buyers in India halt Russian buys as EU sanctions near |
| October 18, 2022 | Two Major Indian Refiners Just Stopped Buying Russian Crude |
| April 12, 2022 | Indian Oil removes Russian Urals from latest tender, sources say |
| March 19, 2022 | Indian Oil Finalises Deal To Import Crude Oil From Russia |
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