OIL & GAS

Indian state refiners halt oil imports from Chinese companies

Indian state refiners have stopped buying crude oil from China-linked companies, three sources said, after New Delhi’s recent regulation aimed at restricting imports from countries that it shares a border with.

The new regulation, put in place on July 23, comes after a border clash between India and China that killed 20 Indian soldiers and soured relations between the two neighbours.

Since the new order was issued, state refiners have been inserting a clause in their import tenders on new rules restricting dealings with companies from countries sharing a border with India, the sources said and the tender documents show.

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.

To participate in Indian tenders, the July 23 order makes registration with a department in the federal commerce ministry ‘mandatory’ for any bidders from nations sharing a border with India.

Source
ET Energy World
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