Indian Oil Corp buys 5 million barrels of crude from West Africa, Middle East, sources say
- Indian Oil Corporation purchases Angola’s Kissanje and Nemba crude grades for delivery to its Paradip Refinery refinery
NEW DELHI/SINGAPORE: State refiner Indian Oil Corp (IOC) bought 5 million barrels of crude oil from West Africa and Middle East via a tender this week, trade sources said on Friday.
IOC purchased Angola’s Kissanje and Nemba crude for delivery to its Paradip refinery, the sources said.
The company also bought Nigeria’s Usan crude from ExxonMobil and Abu Dhabi’s Murban crude from Mercuria for delivery to Vadinar.
IOC also purchased Murban crude from Totsa, the trading arm of TotalEnergies, for delivery to Chennai, the people said.
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The West African cargoes traded at premiums of around $4 a barrel to dated Brent, while Murban cargoes were sold at flat to a slight premium to dated Brent, they added.
The companies typically do not comment on their commercial sales.
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