Rosneft and BPCL in talks to purchase oil priced on Dubai Benchmark: Report

Rosneft and BPCL in talks to purchase oil priced on Dubai Benchmark: Report.

In the aftermath of Western sanctions on Moscow, the agreement would strengthen India’s ties to its largest oil supplier.

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Russia has replaced the United States as India’s major oil supplier, with a 40% stake.

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The sources indicated that the price of the Russian crude sold to BPCL will be $8 per barrel less than the Dubai benchmark.

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