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Money News

India's IOC buys at least 9 million bbls crude via tenders - sources

SINGAPORE (Reuters) - Indian Oil Corp, the country’s largest refiner, has bought at least 9 million barrels of crude via tenders this week, trade sources said on Friday.

IOC bought 4 million barrels of Upper Zakum and Das crude from Shell, they said.

In addition, the refiner also purchased at least 5 million barrels of west African crude, the sources said.

These included Bonny Light, Amenam and Agbami crude from Vitol, Chevron and Total, one of the sources said.

Prices and the exact delivery schedule for the cargoes were not immediately known.

IOC does not comment on commercial deals.

IOC operated its refineries at full capacity in November for first time since the pandemic struck.

Reporting by Florence Tan; Editing by Mark Potter

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