IOC buys Nigerian crude oil from Shell: Sources

IOC buys Nigerian crude oil from Shell: Sources

London: India’s largest state-run oil refiner, Indian Oil Corp (IOC), bought around 2 million barrels of Nigerian crude oil from Shell in a tender for November loading, trade sources said on Friday.

Shell will supply one cargo of Bonny Light crude and another of Forcados co-loaded on a very large crude carrier (VLCC), the sources said. Price details were not immediately available.

Traders had expected IOC to take up to four cargoes of West African crude in the tender. IOC previously bought 5 million barrels of West African crude for the month.

Separately, Mangalore Refinery and Petrochemicals Ltd (MRPL) was reported to have bought a cargo of Congolese Coco crude from independent trader Vitol and a cargo of ultra-light Nigerian Agbami crude oil from BP, trade sources said.

None of the companies was available for comment on the reports.