Oil rocker. File photoNEW DELHI, Mar 24 Indian state oil refinery Indian Oil Corporation (IOC) on Wednesday bought 3 million barrels of Russian Urals crude and 2 million barrels of West African oil in a tender for delivery in May, Deccan Herald reports citing sources. According to them, Urals oil was purchased from trader Vitol on a «discount» delivery basis. This is the second purchase of Urals oil by the Indian Oil Corporation in recent times. Earlier this month, the company purchased similar volumes of Urals from Vitol for delivery in May. Indian Oil and Gas Minister Hardeep Singh Puri, speaking in the upper house of parliament last week, said negotiations were under way on various issues of buying Russian oil. As reported by the New Indian Express newspaper, he responded to a request to comment on information from the media that Russia offered to sell its oil and other raw materials at reduced prices in rupees and rubles. The Business Standard later reported, citing sources, that India could import up to 15 million barrels of crude oil from Russia. national oil pricing system
