IOC keeps Iraq oil import agreement steady, eyes more Russian crude

NEW DELHI: Indian Oil Corp, India's top refiner, has maintained its annual crude import deal with Iraq at 21 million tonnes for 2025, a senior company executive told reporters on Tuesday.

Of the 21 million tonnes, approximately 12 million tonnes are firm, and 9 million tonnes are optional purchases, the company's head of finance, Anuj Jain, said.

The company meets about 55-57% of its oil needs through annual deals with major producers.


Like other Indian refiners, Indian Oil is also looking to maximise Russian oil imports, Jain added.