India’s IOC buys 7 mln bbls of crude via tenders – sources
Indian Oil Corp IOC.NS, the country’s top refiner, has purchased a total of 7 million barrels of crude via tenders for May and June loading, traders said.
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.
Source: Reuters (Reporting by Florence Tan and Nidhi Verma; Editing by Muralikumar Anantharaman)