IOC pauses oil sourcing talks with Russia's Rosneft

Quick Summary:

IndianOil has paused term deal talks with Rosneft due to market dynamics, not government pressure, while increasing US energy imports to reduce the trade surplus.

A five-year gas contract with Trafigura, benchmarked to US rates, signals potential American LNG shipments.

Russian oil's share in IndianOil's crude mix decreased from 31% to 22%.

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Article Details

Author / Journalist: Sanjay Dutta

Category: EconomyBusiness

Markets: India

Topics: LNG Rosneft IndianOil US crude oil Energy imports

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-01 @ 07:02:40 (23 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 545 words

Reading Time: 4 minutes read

Sentences: 20 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 28304328

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About Times of India

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Official Website: timesofindia.indiatimes.com

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