India plans to form group of PSU, private refiners to seek better oil import deals: Oil secy

India is forming a group that brings together state-run and private refiners to seek better crude import deals, oil secretary Tarun Kapoor said on Tuesday, as the country grapples with soaring oil prices.

The world’s third-largest oil importer and consumer, India depends on imports for about 85% of its crude and buys most of it from Middle East producers.