IOC pauses oil sourcing talks with Russia's Rosneft |...

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IOC pauses oil sourcing talks with Russia's Rosneft

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IndianOil has paused term deal talks with Rosneft due to market dynamics, not government pressure, while increasing US energy imports to reduce the trade surplus. A five-year gas contract with Trafigura, benchmarked to US rates, signals potential American LNG shipments. Russian oil's share in IndianOil's crude mix decreased from 31% to 22%.

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