Last week, Indian state refiners decided to stop sending crude import tenders to Chinese trading firm like CNOOC Ltd, Unipec and PetroChina, among others, one of the sources said. State refiners, which control 60% of India’s 5 million barrel-per-day refining capacity, regularly tap spot markets for crude. Chinese companies also hold equity stakes in many oilfields across the globe ranging from the Middle East to Africa and the Americas and often submit competitive bids in crude import tenders by Indian state refiners. NATIONAL INTERESTIndian state refiners have also decided not to deal with China Aviation Oil (Singapore), PetroChina and subsidiaries of Unipec among others for fuel imports, and have stopped chartering Chinese tankers for imports, sources said. State refiners Indian Oil Corp, Bharat Petroleum Corp, Hindustan Petroleum Corp, Mangalore Refinery and Petrochemical did not immediately respond to requests for comment.

Source: Dhaka Tribune August 27, 2020 11:26 UTC