Indian Oil, HPCL buy 7 million barrels of crude via tenders, trade sources say
- The cargoes are scheduled for delivery between late August and early September
Indian state refiners Indian Oil Corp and Hindustan Petroleum Corp collectively purchased approximately 7 million barrels of crude oil from various sources last week for August-September delivery.
- Indian refiners' recent crude oil purchases.
- Specific types and origins of crude oil acquired.
- Delivery schedules for the newly purchased cargoes.
SINGAPORE/NEW DELHI: Indian state refiners Indian Oil Corp and Hindustan Petroleum Corp have together purchased about 7 million barrels of crude oil through tenders last week, trade sources said on Monday.
Prices for the deals were not immediately available.
IOC bought about 1 million barrels of Angola’s Kissanje crude from Cathay Petroleum, the sources said. It also purchased 2 million barrels of Nigeria’s Agbami and Usan crude from Trafigura, and a further 2 million barrels of Angola’s Nemba and Dalia crude from Chevron.
The cargoes are scheduled for delivery between late August and early September.
Separately, HPCL bought 2 million barrels of Brazil’s Tupi crude, the sources said. The cargoes are scheduled for delivery in August and September.
The companies typically do not comment on their commercial sales.
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