SINGAPORE: India’s Reliance has purchased 1 million barrels of heavy crude from Kuwait Petroleum Corp via a tender, four trade sources said.
Last week, KPC issued a tender to sell crude oil that the Al-Zour refinery is unable to process because of unplanned maintenance after a fire.
The cargoes - 500,000 barrels of Kuwait Heavy Crude for loading on December 6 to December 7 and the same volume of Eocene crude for loading on December 8 to December 9 - were awarded to Reliance, the people said.
Oil India posts 43% fall in quarterly profit on low selling price, rising expenses
The prices for the purchase were not immediately clear.
Reliance halted Russian oil purchases last month after Russian producers Rosneft and Lukoil were sanctioned by the United States. The Indian refiner has bought at least 12 million barrels of spot crude from the Middle East and the Americas, Reuters has reported.
Comments
Comments are closed for this article.