REUTERSIndian Oil Minister Hardeep Singh Puri on Tuesday announced that state-run Bharat Petroleum Corp plans to build a new refinery and the nation is looking at signing more oil import deals with countries including Russia at discounted rates. We have had discussion with the Russians on long-term deals," Puri said. While private refiners Reliance Industries and Nayara Energy have signed an annual import deal with Russia, state refiner Indian Oil Corp has not yet renewed its deal. Indian state refiners BPCL and Hindustan Petroleum Corp are also looking at signing term deals with Russia. State-run Oil and Natural Gas Corp has floated a tender seeking technical tie-ups with global oil majors to boost output its western offshore Mumbai High Field, he said.
