Indian Oil Corp IOC.NS, 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.