Indian Oil Corporation (IOC) has signed first term contract for importing Russian crude oil. IOC signed the contract to import up to 2 million tonne of Urals grade crude oil from Rosneft of Russia.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydro carbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.