Having recently finalized India’s new hydrocarbons exploration policy, Indian oil minister Dharmendra Pradhan is now focused on formulating a new crude oil import policy aimed at giving state-run refiners more flexibility in their feedstock procurement. “We want to move towards a much more flexible import policy,” Pradhan told Platts Monday. Sharply reducing the validity period of crude oil import tenders and a combined crude trading desk for state-run refiners for spot buying are some of the options the ministry is considering to include in the plan, he said in an exclusive interview ahead of the Platts Oil Forum in New Delhi. “In the world markets, deals are sealed within minutes these days. Very soon, we will be coming out with a more progressive buying plan.” Article continues below… Oilgram News brings you fast-breaking global petroleum and gas news on and including: Industry players, upstream and downstream markets, refineries, midstream […]