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IOC buys 4.0 mn barrels of end-Aug, Sept sweet crude

IOC buys 4.0 mn barrels of end-Aug, Sept sweet crude
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First Published: Fri, Jul 03 2009. 12 37 PM IST
Updated: Fri, Jul 03 2009. 12 37 PM IST
New Delhi: India’s largest state-owned refiner Indian Oil Corp (IOC) has bought via tenders 4.0 million barrels of sweet crude for loading between end-August and September, including its first cargo of Zarzaitine crude, trade sources said on Friday.
IOC bought 1.0 million barrels of Tunisia’s Zarzaitine, 1.0 million barrels each of Nigerian Erha and Escravos grades as well as 1.0 million barrels of Malaysian Kikeh crude - its first cargo of Malaysian crude in four months, the sources said.
IOC has bought 9.65 million barrels of sweet crude for August delivery so far, including 8.0 million barrels from West Africa, 1.0 million barrels of Caspian CPC grade and 650,000 barrels of Yemeni Masila grade.
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.
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First Published: Fri, Jul 03 2009. 12 37 PM IST
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