Singapore: “India’s largest state-owned refiner Indian Oil Corp (IOC) has issued a second tender to buy March sweet crude,” traders said.
“Grade offers in the tender are due on Tuesday and the tender is to remain valid until at least Thursday,” a trader added.
IOC bought 4 million barrels of Nigerian crude for March loading in a first tender awarded last week.
IOC, which operates about 10 refineries spread across India for a total capacity of 1.204 million bpd, tenders several times a month to buy crude, mainly West African barrels.