January 11, 2018 / 4:45 PM / 3 months ago

India's IOC buys U.S. Light Louisiana Sweet oil via tender

NEW DELHI (Reuters) - India’s top refiner Indian Oil Corp has bought 2 million barrels of U.S. Light Louisiana Sweet (LLS) crude via a tender for April delivery, its head of finance A. K. Sharma said on Thursday.

FILE PHOTO: A logo of Indian Oil is seen on the shirt of an employee at a fuel station in New Delhi, India August 29, 2016. REUTERS/Adnan Abidi/File Photo

This is the first purchase of LLS crude by an Indian refiner.

IOC has purchased the sweet oil from trader Trafigura, he said.

IOC will import the cargo at the eastern port of Paradip.

IOC will process the crude at its Mathura and Barauni refineries, he said.

This is the third purchase of the U.S. oil by IOC, Sharma said.

Reporting by Nidhi Verma; Editing by Mark Potter

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