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.


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