Indian Oil & HPCL explores possibilities to import crude oil from Russia

29 Jun 2022 CW Team

State-owned Bharat Petroleum Corporation Ltd’s sister firms – Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Limited (HPCL) – are also exploring possibilities to enter into a term contract with Russia for crude oil imports.

BPCL’s plan to enter into a term agreement with Russia, not on the government’s direction, but considering the price advantage that the Russian crude can present now.

Indian oil companies have never had a term agreement with Russia for imports of crude. Whatever quantity is procured from Russia is from the spot market. However, new avenues for the term can always be examined.

The lion’s share of India’s crude oil import is from the Middle East on term agreements. India is the third-largest importer of crude oil in the world.

Image Source

Also read: Bharat & Hindustan Petroleum wins two licenses for selling CNG & piped

Infrastructure Urban

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..