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State marketing cos for flexible deals

Oil & Gas
December 1, 2014December 1, 2014
State marketing cos for flexible deals
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PSU refiners, who account for about two-thirds of the country´s oil processing capacity, are seeking more flexibility in import contracts as they look to tap new sources of supply flushed out by the US shale boom. India, the world´s fourth-biggest oil consumer with refining capacity of 4.3 million barrels per day, imports 80 per cent of its crude needs and has traditionally relied on the Middle East for heavy oil supplies and West Africa for lighter, sweet crude.

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