IOC pauses oil sourcing talks with Russia’s Rosneft

New Delhi: India’s largest oil refiner-fuel retailer Indianaile has hit the talks button for talks for a terrace deal for a term deal for source from Russia’s Rosneft to increase energy imports from the US to increase energy imports from the US.
As a sahney, the president of the company said that the move was motivated by market dynamics and not under pressure from any government. “We are not yet in active talks (with Rosneft), but we are open for it. There is no mandate (to buy from the US). We buy raw based on our requirement and price competition,” he said on Wednesday that the March quarter said that the March quarter -50 jumps in the profit after reporting 50% jumps in the previous compatible period for Rs 7,264.8 crore.
In another development, Indianail signed a five -year gas contract worth about $ 1.4 billion worth about $ 1.4 billion with Global Energy Merchant Traffic for LNG at a benchmark price for the Henry Hub (US rates), increasing the possibility of shipment from the US.
Sahni said that any crude has to fit into the company’s rigorous adaptation models that produces fuel that the market wants from the most economically available source. “This word is not a good time for deals …”, he said, incorporating the abundance of cheap barrels from the geopolitical status related to Russia and other places.
The share of Russian oil in the bouquet of crudes processed by Indianoul was 22% against 31% in 2023-24 in 2024-25. Fall said that many started before the latest sanctions imposed by the Trump administration on Russian oil and shipping areas. Indians continue to buy Russian crude through tenders, he said something, if prices would suit the company.
Sahni refused to say whether the gas contract with Trafigura had any supply from the American portfolio of the trader. The contract envisages 2.5 million tonnes of LNG sourcing, divided into 27 shipments, the second half of the current financial year.