India's Refiners Plan to Buy More Russian Oil on Spot Market
Some Indian refiners are planning to take more Russian crude from the spot market this year, with at least one processor seeking changes to contract clauses to allow greater buying flexibility.
Indian Oil Corp., the nation's biggest refiner, is planning to have a quarter of its supply made up of Russian barrels, while Bharat Petroleum Corp. wants around a third of its processed crude to be from the OPEC+ producer. Company executives made the remarks on recent calls for quarterly earnings.
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