BackIndian Oil buys 6 million barrels of US oil for November to January delivery
Indian Oil Corp will buy 6 million barrels of US crude oil for November to January delivery through a mini-term tender
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New Delhi: Indian Oil Corp, the country’s top refiner, will buy 6 million barrels of US crude oil for November to January delivery through a mini-term tender, its head of finance said on Wednesday.
This was the company’s first mini-term tender to buy US oil, the executive, A.K. Sharma, said.
The company would buy 2 million barrels of Mars oil in November, a combination cargo containing 1 million barrels each of Eagle Ford and Mars in December and 2 million barrels of Louisiana Light Sweet in January, he said.
The first and second cargoes will be received at the ports of Vadinar and Mundra, while the third cargo will go to Paradip, he said.
He did not identify the sellers or the price.
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