Indian Oil Corporation (IOC) has signed up to buy crude oil from the US through a term-tender deal. The company has signed a contract to buy about 6 million barrels of US crude oil under single tender for delivery in November 2018 to January 2019.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.