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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Lawmakers must not dilute penalties for insurers on mis-selling

    The much delayed insurance laws (amendment) bill is back in the news and the positive statements of finance minister Arun Jaitley suggest that the gov

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

New model for effective education

After interacting with students and teaching community on a ...

Zehra Naqvi

Being unrealistic can be good for you

Depression is a term that most people use very casually ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture