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Indian refiners favor delivered crude in procurement shift as shipping costs mount

Indian state-run refiners are increasingly seeking crude on a delivered, or CIF, basis rather than on FOB terms, as geopolitical tensions drive sharp swings in freight and insurance costs, petroleum…

  • Indian refiners shifting to delivered crude pricing amid rising shipping costs
  • CIF agreements provide stable landed cost and protection against freight rate hikes
  • Hindustan Petroleum Corp. Ltd. considers purchased crude on landed basis

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