Indian Oil to import 2 million tonnes of oil from Russia's Rosneft in 2020

Indian Oil has signed a deal with Russia's Rosneft for importing two million tonnes of Russian crude oil during 2020. The new arrangement is expected to result in price stability and will ensure energy security for India, the Oil Ministry said. Earlier, the government said India's oil import dependence increased from 78.3% in FY15 to 83.8% in FY19.