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Essar Oil, Indian Oil renew Product-Supply deal

28 Nov 2011 Evaluate
Essar Oil, a subsidiary of the London listed Essar Energy, announced that it has renewed a major product sale and purchase agreement with Indian Oil Corporation (IOC), India’s largest oil retailer. The renewed three-year agreement, running from 2012 to 2015, requires Essar Oil to supply diesel, petrol, kerosene and aviation turbine fuel to IOC from its Vadinar refinery, totalling 2 million tonnes every year. It also entitles the company to purchase products from IOC and gives the two companies the option of sharing each other’s distribution infrastructure.
Peers
Company Name CMP
Reliance Industries 1226.00
Indian Oil Corpn. 135.80
Bharat PetroleumCorp 307.55
HPCL 351.50
MRPL 164.85
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