IOCL keeps Iraq oil import agreement steadyLike other Indian refiners, IOCL is also looking to maximise Russian oil imports
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Indian Oil Corporation Limited Logo.
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New Delhi: Indian Oil Corporation Limited (IOCL), the country top refiner, has maintained its annual crude import deal with Iraq at 21 million tonnes for 2025, a senior company executive told reporters on Tuesday.
Of the 21 million tonnes, approximately 12 million tonnes are firm, and 9 million tonnes are optional purchases, the company's head of finance, Anuj Jain, said.
The company meets about 55-57 per cent of its oil needs through annual deals with major producers.
Like other Indian refiners, IOCL is also looking to maximise Russian oil imports, Jain added