Indian Oil Corp (IOC) , the country's top refiner, has bought 7 million barrels of spot Middle Eastern and African crude oil via tenders, including a rare purchase of Abu Dhabi's Murban, as U.S. sanctions are expected to hit supplies from Russia,

Indian Oil Corp is buying Middle Eastern and African crude to replace Russian volumes affected by U.S. sanctions.

Indian Oil Corp (IOC) is seeking high-sulphur oil from the spot market in its first sour crude import tender since March 2022, expecting the latest U.S. sanctions to hit supplies from Moscow, trade sources said on Thursday.

Bharat Petroleum Corporation (BPCL), and Hindustan Petroleum Corporation (HPCL), are now exploring alternative sources in the Middle East, Africa, and Latin America to mitigate potential shortfalls in

It is India's first tender for sour crude imports since March 2022. IOC and other Indian refiners have significantly increased purchases of Russian oil over the past two years, taking advantage of discounted prices after the West imposed sanctions on Moscow over its full-scale invasion of Ukraine in 2022.

India's top refiner, Indian Oil Corp (IOC), has purchased 7 million barrels of Middle Eastern and African crude oil via tenders, including a rare buy of Abu Dhabi's Murban, as U.S. sanctions impact supplies from Russia.