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Indian oil companies negotiating Russian oil purchases — newspaper

According to Mint, Indian Oil Corp, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd continue buying oil from Russian purchases and talks are underway to make spot deals

NEW DELHI, August 2. /TASS/. India continues sourcing oil from Russia and state-owed refining companies are negotiating energy resources purchases, the Mint newspaper said, citing sources.

According to them, such companies as Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) continue buying oil from Russian purchases and talks are underway to make spot deals.

"There is no decision as to go slow or stop Russian oil," said one of the sources. "They [Russian oil supplies - TASS] may have declined amid cheaper global oil prices and narrowing discounts in the past, but there is no decision on halting imports from Russia," he noted.

"The deals which are being negotiated now are for deliveries to be made in September. Till then, refiners are already tied up," another source said.