 "oil")
India’s top refiner Indian Oil Corporation (IOC) will no longer accept cargoes of Russian crude oil and Kazakh CPC Blend on a free-on-board (FOB) basis due to insurance risk, according to a tender notice and a source familiar with the matter.
The letter was sent on Monday to traders who submit cargo offers into IOC’s regular crude oil buy tenders. It was in December 2021, during the visit of Russian President Vladimir Putin to India, that IOC renewed its contract with Rosneft to buy up to 2 million tonnes (MT) of crude oil in 2022 from the Russian major
The letter was sent on Monday to traders who submit cargo offers into IOC’s regular crude oil buy tenders. It was in December 2021, during the visit of Russian President Vladimir Putin to India, that IOC renewed its contract with Rosneft to buy up to 2 million tonnes (MT) of crude oil in 2022 from the Russian major
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