{"id":300535,"date":"2019-11-13T10:31:03","date_gmt":"2019-11-13T05:01:03","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=300535"},"modified":"2019-11-13T10:53:10","modified_gmt":"2019-11-13T05:23:10","slug":"iocl-may-import-costly-russian-oil-as-it-aims-to-diversify-sources","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/iocl-may-import-costly-russian-oil-as-it-aims-to-diversify-sources\/","title":{"rendered":"IOCL may import &#8216;costly&#8217; Russian oil as it aims to diversify sources"},"content":{"rendered":"<p>Indian Oil Corp, the country&#8217;s top refiner, is considering importing Russian oil, its chairman Sanjiv Singh said on Monday, as the company aims to diversify its oil import sources. <\/p>\n<p>India, the world&#8217;s third-biggest oil importer and consumer, ships in about 60% of its overall crude needs from the middle eastern countries. The nation is gradually tapping new sources to hedge itself against geopolitical risks. <\/p>\n<p>Indian state refiners &#8211; IOC, Hindustan Petroleum Corp Ltd, Bharat Petroleum Corp Ltd and Mangalore Refinery and Petrochemicals Ltd &#8211; hardly buy Russian oil as high transportation costs make the crude costly compared to the grades in Middle East. <\/p>\n<p>&#8220;We are exploring all options, we are discussing,&#8221; Singh said, when asked if his company would sign a term contract with Russian companies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian Oil Corp, the country&#8217;s top refiner, is considering importing Russian oil, its chairman Sanjiv Singh said on Monday, as the company aims to diversify its oil import sources. India, the world&#8217;s third-biggest oil importer and consumer, ships in about 60% of its overall crude needs from the middle eastern countries. The nation is gradually tapping new sources to hedge itself against geopolitical risks. Indian state refiners &#8211; IOC, Hindustan Petroleum Corp Ltd, Bharat Petroleum Corp Ltd and Mangalore Refinery and Petrochemicals Ltd &#8211; hardly buy Russian oil as high transportation costs make the crude costly compared to the grades [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-300535","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/300535","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=300535"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/300535\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=300535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=300535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=300535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}