The Indian Oil Corp. (IOC) intends to produce more than 1 million mt of very low sulfur fuel oil (VLSFO) this year, according to a report from Reuters.
The state-run refiner is seeking to boost its output of low-sulfur fuels, company chairman Sanjiv Singh told the news agency.
Indian media this week have reported a shortage of VLSFO on the country's east coast that may cause delays for coastal shipping there.
The IOC is currently buying its crude from the US, but may consider a term contract to buy some from Russia, Singh told Reuters.
