June 1, 2009 / 9:13 AM / 10 years ago

Asia Crude-IOC seeks more August crude

SINGAPORE, June 1 (Reuters) - India’s largest state-owned refiner, Indian Oil Corp (IOC), has issued a second tender to buy August sweet crude, after having bought four million barrels last week, traders said on Monday.

Grade offers in the tender are due on Tuesday, with price offers due on Wednesday and to remain valid until Thursday.

IOC bought 4 million barrels of West African crude, including 1.0 million barrels each of Yoho and Kissanje crudes from European trader Vitol, and another million barrels of Kissanje together with Agbami crudes from oil major Chevron, likely for August loading, traders said last week.

IOC, which operates about 10 refineries spread across India for a total capacity of 1.204 million bpd, tenders several times a month to buy crude, mainly West African barrels.

Reporting by Maryelle Demongeot; Editing by Ben Tan

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