“The price at which we buy crude, liquefied petroleum gas, and liquefied natural gas is very crucial,” Khanna said. “There is definitely an advantage in having our own trading desk.”Singapore is a trading hub for a wide range of commodities including oil, energy, metals and agriculture. ONGC is discussing a similar partnership with European oil majors, while IOC is in talks with Vitol Group for such a venture, Bloomberg News reported earlier. Bharat Petroleum had partnered with Shell plc in the middle of the last decade to improve its trading acumen. A global trading partner may again be sought, should there be a need in the future, he said.

Source: The Edge Markets January 29, 2026 16:26 UTC