Oil Price Shock Forces India's Top Refiners to Suspend Fuel Credit ...Middle East

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Oil Price Shock Forces Indias Top Refiners to Suspend Fuel Credit
India’s state-controlled refiners and retailers are requesting advance payments for the fuel they are supplying to fuel stations as the Middle East war chokes supply to the world’s third-largest crude importer and sent crude prices soaring.  Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Limited (HPCL), and Bharat Petroleum Corporation Limited (BPCL) – the state-owned refiners and retailers to which 90% of the more than 100,000 fuel stations in India are linked – want payments first before delivering…

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