Tuesday, April 20, 2010

India's BPCL buys Nigeria, Algeria June crude

http://in.reuters.com/article/domesticNews/idINLDE63J1VX20100420

* Grades: 1 mln bbls Agbami, Brass River, Saharan Blend

* BPCL buys Nigerian from Glencore, Saharan from Sonatrach

NEW DELHI/LONDON, April 20 (Reuters) - India's Bharat Petroleum Corp (BPCL) bought 3 million barrels of June-loading sweet crude from Nigeria and Algeria in its latest tender closing on Tuesday, trade sources said.

India's second-largest refiner bought 1 million barrels each of Nigerian Agbami and Brass River crude oil grades from trader Glencore, due to load on a Very Large Crude Carrier sometime in June, traders said.

BPCL paid a premium above dated Brent of around 40 cents for each Agbami barrel and between dated Brent plus $1.20 and plus $1.30 for the Brass River, traders said.

BPCL also bought 1 million barrels of June Saharan Blend crude oil from Algerian state-owned oil company Sonatrach, traders said. Price details were not immediately available. (Reporting by Nidhi Verma in New Delhi and Joe Brock in London; editing by James Jukwey

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