IOC.NSE

Indian Oil Corporation Ltd.

Indian Traders Begin Switching To Chinese Yuan For Russian Oil Purchases: Report Via The Cradle India’s state oil firm has begun making payments for Russian energy in Chinese currency, the yuan, according to a report released by Reuters on Tuesday. "Indian Oil Corporation recently made payments in Chinese currency for two to three cargoes of Russian oil," informed sources told the British outlet. Image: Getty Images "Now, traders, which until now had to convert payments in dirhams or dollars into yuans – since only those can be directly exchanged into rubles needed to pay the producers – are seeking to remove one costly step from the process ," one trade source said. Sources also said that traders are "pricing Russian oil in dollars to ensure adherence to the European Union's price cap and seeking equivalent yuan payment," adding that "payments in yuan will expand the availability of Russian oil for Indian state refiners, given some traders would not accept other currencies." US President Donald Trump recently cracked down hard on India over its energy ties to Russia.

Urals crude prices fall to $2–$2.50 below Brent, boosting their cost appeal.

NEW DELHI/SINGAPORE: Traders offering Russian oil have begun asking Indian state refiners to pay in Chinese yuan, taking recent signs of improving relations between New Delhi and Beijing as a chance to simplify deals with Indian buyers, trade sources said. India’s top refiner, state-controlled Indian Oil Corp, recently made payments in Chinese currency for two to three cargoes of Russian oil, people familiar with Indian companies’ Russian oil purchases said. Indian Oil did not immediately respond to Reuters’ request for comment. Western sanctions imposed on Russia after its 2022 invasion of Ukraine have accelerated usage of alternative currencies, including the yuan and the UAE dirham to settle oil trades, which have long been dominated by the dollar. India’s Russian oil gains wiped out by Trump’s tariffs In 2023, Indian state refiners made some payments for Russian oil in yuan, but they stopped due to displeasure from the Indian government during a period of heightened tensions with Beijing, though private refiners continued to use the Chinese currency.

SINGAPORE (ICIS)--Here is a plant status report: Name: Indian Oil Corp. (IOC) Location: Haldia, India Product: Group II Base Oils Capacity (tonnes/year): 219,000 Event start: Mid-October 2025 Event...

… IndianOil Corporation (IndianOil) and GPS Renewables , focused on advancing India’s … , MD of GPSR ARYA (GPS Renewables ’ asset platform), said, “Securing the … as a leading producer of renewable energy. This fundraise is a …