Indian Oil cancels LNG import tender due to higher prices: Report

Indian Oil Corp has cancelled its tender to import liquefied natural gas (LNG) for delivery in mid February due to higher prices, two trade sources familiar with the matter said.

Indian Oil Corp, iocl — A logo of Indian Oil in New Delhi | Photo: Reuters

Reuters NEW DELHI/SINGAPORE

1 min read Last Updated : Jan 13 2021 | 9:56 PM IST

NEW DELHI/SINGAPORE (Reuters) - Indian Oil Corp has cancelled its tender to import liquefied natural gas (LNG) for delivery in mid February due to higher prices, two trade sources familiar with the matter said.

One the of sources said offers were made at current spot rate of about $30/million British thermal units, which is "unaffordable" to Indian customers

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Already subscribed? Log in

Subscribe to read the full story →

^*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%

*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

In-depth market analysis & insights with access to The Smart Investor

Ad-free Reading

Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

Access Business Standard across devices — mobile, tablet, or PC, via web or app

SAVE 25%

Subscribe for ₹2,700 / 1 Year

Connect with us on WhatsApp

Indian Oil cancels LNG import tender due to higher prices: Report

Indian Oil Corp has cancelled its tender to import liquefied natural gas (LNG) for delivery in mid February due to higher prices, two trade sources familiar with the matter said.