NEW DELHI/LONDON (Reuters) - State-run Indian Oil Corp (IOC) bought 4 million barrels of Nigerian crude oil and 1 million barrels of Masila crude in its latest tender for April lifting, trade sources said on Friday.
The sources said India's largest oil refiner bought one Very Large Crude Carrier (VLCC) containing 2 million barrels of Nigerian Qua Iboe from trader Glencore and another VLCC of 2 million barrels of Nigerian Escravos crude from Chevron.
IOC also bought a 1 million-barrel cargo of Masila crude from Nexen, the sources said. All the crude was for loading in April.
Other trade sources said Glencore sold the Qua Iboe at an fob price of around dated BFOE plus $1.50 per barrel, while Chevron sold the Escravos at around dated BFOE plus $1.30 per barrel fob. There was no word on the price for the Masila.
None of the companies identified as sellers was available for immediate comment.
IOC had already bought 4 million barrels of West African crude oil for April loading via a previous tender.
On February 4, IOC bought 1 million barrels each of Nigerian Yoho, Erha and Escravos crudes and another 1 million barrels of Equatorial Guinean Zafiro. All those barrels were supplied by oil trader Vitol for April loading, traders said.
IOC, which operates 10 refineries across India with a total capacity of 1.204 million bpd, tenders several times a month to buy crude oil, mainly West African barrels.
No comments:
Post a Comment