Which company becomes the first Indian state refiner to buy U.S. crude oil worth USD 1.5 billion for 60,000 barrels a day from April 2019 to March 2020?
Indian Oil Corporation(IOC), has signed its very first annual deal to buy U.S. crude oil, paying USD 1.5 billion for 60,000 barrels a day beginning April 2019 to March 2020 to diversify its crude sources.IOCL is the first Indian state refiner to buy U.S. oil under an annual contract, in a deal that will also help boost trade between New Delhi and Washington.
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