Indian Oil to team up with Vitol in global trading push, source says

Indian Oil plans to sign a deal early next year to form a joint venture with global trader Vitol as the state-run refiner seeks to expand its footprint in international crude and fuel trading, according to a source with direct knowledge of the matter.

The move marks a strategic shift for India’s largest refiner, which is seeking to copy global oil majors like Exxon Mobil and Shell by leveraging Vitol’s trading expertise and global network.