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The Economic Times

Economy / The Economic Times

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IOCL, BPCL, and HPCL to take 35% stake in shipping freight joint venture with SCI

India's major oil companies and the Shipping Corporation of India are joining forces. This new venture will acquire ships to transport crude oil and refined fuels. The goal is to reduce dependence on foreign vessels. This move aims to save India significant foreign exchange annually. The joint venture will also boost India's energy security.

26 Feb 2026 12:01 am