{"id":44900,"date":"2026-04-06T14:22:42","date_gmt":"2026-04-06T14:22:42","guid":{"rendered":"https:\/\/www.europesays.com\/ch\/44900\/"},"modified":"2026-04-06T14:22:42","modified_gmt":"2026-04-06T14:22:42","slug":"indian-oil-to-team-up-with-vitol-in-global-trading-push-source-says-2","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ch\/44900\/","title":{"rendered":"Indian Oil to team up with Vitol in global trading push, source says"},"content":{"rendered":"

Indian Oil<\/a> plans to sign a deal early next year to form a joint venture with global trader Vitol as the state-run refiner seeks to expand its footprint in international crude and fuel trading, according to a source with direct knowledge of the matter.<\/p>\n

The move marks a strategic shift for India’s largest refiner, which is seeking to copy global oil majors like Exxon Mobil and Shell by leveraging Vitol’s trading expertise and global network.
The joint venture, to be based in Singapore, will initially operate for five to seven years, the source said, adding that an exit clause will be included for both partners.<\/p>\n

Indian Oil, along with its subsidiary Chennai Petroleum<\/a>, controls about 31% of India’s 5.17 million barrels per day (bpd) of refining capacity. The company currently trades oil and fuel primarily for its own refineries but now wants to become a global player, the source said. The source did not want to be identified by name due to the sensitivity of the matter.<\/p>\n

The partnership with Vitol will help Indian Oil cut crude-procurement costs from spot markets and improve margins through access to new buyers, the source added.<\/p>\n

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The joint venture will also help the global fuel trader strengthen its position in India as it seeks to position itself as a global refining hub. India is the world’s third biggest oil consumer and importer.
India will raise its crude-refining capacity to about 6.2 million bpd by 2030 with long-term plans to scale further to 8 million to 9 million bpd, oil minister Hardeep Singh Puri said on Tuesday.He said the refining capacity expansion will consolidate India’s position among the top three refining hubs globally, as around 20% of the existing global refining capacity – some 100 refineries – faces potential closure by 2035.<\/p>\n

Indian Oil<\/a> held talks with several firms, including BP, Trafigura, and TotalEnergies, before teaming with Vitol, the source said.<\/p>\n

The refiner imports most of the crude processed at its 10 facilities, which have a combined capacity of 1.62 million bpd. The planned venture is expected to help Indian Oil export refined fuels and tap into Vitol’s distribution channels.<\/p>\n","protected":false},"excerpt":{"rendered":"Indian Oil plans to sign a deal early next year to form a joint venture with global trader…\n","protected":false},"author":2,"featured_media":44901,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[125],"tags":[264,25841,254,25837,25842,25840,927,25838,25839,158],"class_list":["post-44900","post","type-post","status-publish","format-standard","has-post-thumbnail","category-vitol","tag-chennai-petroleum","tag-india-russia-oil-news","tag-indian-oil","tag-indian-oil-news","tag-indian-oil-news-today","tag-oil-price-today","tag-oil-prices","tag-oil-prices-india","tag-oil-prices-today","tag-vitol"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ch\/116358214049655331","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/44900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/comments?post=44900"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/posts\/44900\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media\/44901"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/media?parent=44900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/categories?post=44900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ch\/wp-json\/wp\/v2\/tags?post=44900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}