India's IOC Buys 7 Million Barrels Of Crude Via Tenders - Report

Indian Oil Corp bought 4 million barrels of Murban crude and 3 million of West African Crude for May and June loading.

By car&bike Team


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Published on April 13, 2022

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    Indian Oil Corp, the country's top refiner, has purchased a total of 7 million barrels of crude via tenders for May and June loading, traders said on Wednesday.

    The refiner bought 4 million barrels of Murban crude and another 3 million of West African crude, they added.

    Oil majors Total, Shell and BP sold the Murban cargoes, the sources said.

    For West African grades, IOC bought Angolan Hungo crude and Equatorial Guinea's Zafiro crude from ExxonMobil and Nigerian Usan crude from Totsa, they added.

    Companies usually do not comment on commercial deals.

    The results came after IOC on Tuesday excluded several high-sulphur crude grades, including Russian Urals, from its tender.

    In previous tenders, IOC bought 6 million barrels of Russian Urals for loading and delivery in May.

     (Reporting by Florence Tan and Nidhi Verma; Editing by Muralikumar Anantharaman)

    (This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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