Markets

India HPCL buys 2mn bbls Qua Iboe for Nov

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HPCL has so far been buying crude in Suezmax vessels.

 

The refiner has bought the crude from trader Glencore at a premium of $2.60 to $2.80 a barrel over the dated Brent price for processing at its 166,000 barrels per day (bpd) Vizag refinery in southern India, the source said.

 

HPCL also operates a 130,000 bpd plant in Mumbai and has a stake in the 180,000 bpd Bhatinda refinery in the northern state of Punjab.

 

Copyright Reuters, 2012