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Saudi sells India more crude after Iran cuts supply: sources

Published July 26, 2011 Updated July 26, 2011 08:07am
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By Abdul Ahad
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oilNEW DELHI: Top exporter Saudi Arabia approved sales of 3 million barrels of extra crude to India for August to make up for a loss of shipments from Iran due to a payment dispute, sources with direct knowledge of the sale said on Tuesday.

"Saudi Aramco has confirmed the supply of additional volumes to Indian refiners," one of the sources said. "One million barrels each to Bharat Petroleum, Essar and Hindustan Petroleum. It is a mix of Arab light, Arab Heavy and Arab Medium."

Sources at Indian refiners Hindustan Petroleum Corp (HPCL), Bharat Petroleum Corp (BPCL) and Essar Oil said that state oil giant Aramco had confirmed it would supply each of them with an additional 1 million barrels of crude in August.

 

Copyright Reuters, 2011

 

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