Indian Oil and Vitol Set to Launch Global Trading Joint Venture
Update: 2025-10-30
Description
Indian Oil Corporation, India's largest state-run refiner, is set to form a joint venture with global energy giant Vitol, expanding its global crude and fuel trading presence. Based in Singapore, the partnership aims to leverage Vitol's trading expertise and worldwide network, enabling Indian Oil to buy crude at better prices, improve profit margins, and reach new overseas buyers. This strategic move comes as India's oil consumption and imports are surging, positioning the country as a potential top three refining hub by 2030. The joint venture will help Indian Oil transform into a significant international player and solidify India's status as an energy powerhouse.
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