{"id":259676,"date":"2019-02-19T05:03:50","date_gmt":"2019-02-19T05:03:50","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=259676"},"modified":"2019-02-19T05:03:50","modified_gmt":"2019-02-19T05:03:50","slug":"ioc-signs-1-5-billion-deal-to-buy-us-crude-oil","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/ioc-signs-1-5-billion-deal-to-buy-us-crude-oil\/","title":{"rendered":"IOC signs $1.5 billion deal to buy US crude oil"},"content":{"rendered":"<p>NEW DELHI: Indian Oil, country\u2019s top refiner, has struck a $1.5 billion deal to buy oil from the US, the company said on Monday in an unusual announcement just a day before the Crown Prince of Saudi Arabia begins his India visit. <\/p>\n<p>\u201cIndian Oil has finalised a term contract for import of up to 3 million tonnes of crude oil of US origin grades as a part of its strategy to diversify term crude sources,\u201d the company said in a statement. \u201cThis is the first term contract finalised by any Indian PSU oil company for import of US origin crude oil grades.\u201d <\/p>\n<p>At current prices, the year-long contract beginning April is estimated to be worth $1.5 billion although actual value would depend on timings of delivery of cargoes. The contract was finalised on February 15. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW DELHI: Indian Oil, country\u2019s top refiner, has struck a $1.5 billion deal to buy oil from the US, the company said on Monday in an unusual announcement just a day before the Crown Prince of Saudi Arabia begins his India visit. \u201cIndian Oil has finalised a term contract for import of up to 3 million tonnes of crude oil of US origin grades as a part of its strategy to diversify term crude sources,\u201d the company said in a statement. \u201cThis is the first term contract finalised by any Indian PSU oil company for import of US origin crude [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-259676","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/259676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=259676"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/259676\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=259676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=259676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=259676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}