Oil PSU Indian Oil Corporation (IOC) has signed a USD 7-9 billion deal to import LNG from UAE on long term basis. IOCL shares ended today's session in the red at Rs 120.15 per share, down -0.35 points or -0.

ADNOC Gas has signed a 14-year agreement to supply up to 1.2 million tonnes per annum of LNG to Indian Oil, valued at between $7 billion and $9 billion.

India is seeking to boost oil and gas imports from the US in an effort to reduce the trade imbalance between the two countries and avoid potential retaliatory tariffs.

Indian Oil Corp is in talks with U.S. firm Cheniere Energy for a 15-year liquefied natural gas deal, with volumes between 1.5 million to 2 million metric tons per year, said a company source on Tuesday on the sidelines of the India Energy Week conference.

India's top importers of liquefied natural gas are holding talks to buy more fuel from U.S. suppliers, ahead of Prime Minister Modi’s expected meeting with President Trump this week, Bloomberg reported Monday.