
Revolutionizing Bilateral Trade: ADNOC and IOCL’s Landmark Crude Oil Transaction under New LCS System
New Delhi: A significant milestone has been achieved in strengthening bilateral economic relations as the Abu Dhabi National Oil Company (ADNOC) and the Indian Oil Corporation Limited (IOCL) successfully concluded the inaugural crude oil transaction through the recently implemented Local Currency Settlement (LCS) system. This pioneering transaction involved the sale of around 1 million barrels…