January 16, 2020 / 5:42 AM / 8 days ago

Indian Oil eyes output of over 1 mln T 'very low sulphur' marine fuel in 2020

NEW DELHI, Jan 16 (Reuters) -

* Indian Oil Corp Ltd aims to produce more than 1 million tonnes of “very low sulphur” marine fuel in 2020, Chairman Sanjiv Singh said on Thursday

* India’s largest state-run refiner will boost low sulphur bunker fuel output this year, Singh said

* Indian Oil, which is buying oil from the United States via spot tenders and annual deals, will explore an annual deal for purchase of oil from Russia, he said

* The company, which is looking to raise funds, is considering monetising some of its assets

* The refiner will decide whether to bid for state-run Bharat Petroleum Corp Ltd after examining tender details, Singh said (Reporting by Nidhi Verma; Editing by Clarence Fernandez)

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