India seeking long-term oil supply contract with Canada: Minister

India is seeking a long-term oil supply contract with Canada, oil minister Veerappa Moily said on Monday.

In November, Indian Oil Corp, the country's largest refiner, became the first state refiner to buy Canadian oil, joining private refiners Reliance Industries and Essar Oil.

India's efforts to diversify oil sources have become more urgent as western sanctions over Teheran's nuclear programme squeeze imports from Iran, once India's second-biggest supplier. Supplies from Libya and Sudan have also been disrupted.

EDITORIAL OF THE DAY

  • Because our politicians elbowed out our teachers on Teachers’ Day

    The Swachch Bharat campaign made the highest leaders sweep. Teachers’ Day is making them teach.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Sachin Shridhar

Crouching tiger, hidden dragon

The Chinese are consummate gamblers. If you visit a casino ...

Zehra Naqvi

Capturing change

The pace of change in the world around us can ...

Gautam Gupta

Bring on the Benares brigade

It was in 2003 when I first started work and ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture