State-owned oil marketing companies (OMCs) may find it hard to comply with the government\u2019s recent order to cut crude imports from West Asia, especially Saudi Arabia, three senior OMC executives said. This has implications for costs and supplies, they said. Saudi Arabia is one of the biggest members of the Organization of the Petroleum Exporting Countries (Opec), the world\u2019s largest bloc of crude exporting countries.<\/p>\n
State-owned refiners are likely to face a challenge in attempts to find a reliable crude oil supplier, according to the three persons, all of whom requested anonymity.<\/p>\n
They also spoke about the increased costs involved in importing non-Opec crude because of additional freight charges. \u201cWe have been building our refineries substantially on Middle Eastern crude not only because of the availability of a variety of crude cocktails but also because we are ensured a continuous and voluminous supply, something other countries promise often but fail to deliver,\u201d said one of the three people cited above.<\/p>\n","protected":false},"excerpt":{"rendered":"
State-owned oil marketing companies (OMCs) may find it hard to comply with the government\u2019s recent order to cut crude imports from West Asia, especially Saudi Arabia, three senior OMC executives said. This has implications for costs and supplies, they said. Saudi Arabia is one of the biggest members of the Organization of the Petroleum Exporting Countries (Opec), the world\u2019s largest bloc of crude exporting countries. State-owned refiners are likely to face a challenge in attempts to find a reliable crude oil supplier, according to the three persons, all of whom requested anonymity. They also spoke about the increased costs involved […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[141,130,183],"tags":[],"class_list":["post-409017","post","type-post","status-publish","format-standard","hentry","category-hindustantimes","category-newspapers","category-oil-gas-hindustantimes"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/409017","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\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=409017"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/409017\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=409017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=409017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=409017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}