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India IOC issues tender to buy light sweet crude

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By Shoaib Ur Rehman
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indian-oilLONDON/SINGAPORE: Indian Oil Corp (IOC) has issued a tender to buy West African light sweet crude for May loading, traders said on Monday.

Grade and price offers should be submitted by Wednesday and Thursday, respectively, and remain valid until Friday, they said.

IOC, India's largest refiner, typically issues several tenders every month to buy West African light sweet.

The latest tender is the second one issued by IOC to buy May loading barrels. In the previous tender, it bought 4 million barrels of Nigerian crude, including Qua Ibo, Forcados and Bonga, traders said.

Copyright Reuters, 2012

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