June 16, 2020 / 10:15 AM / 2 months ago

India's IOC awards U.S. crude purchase tenders to Trafigura - sources

An Indian Oil tanker driver waits outside a fuel depot in Mumbai, India, October 6, 2017. REUTERS/ Danish Siddiqui/Files

SINGAPORE/NEW DELHI (Reuters) - Indian Oil Corp, the country’s top state refiner, has awarded two tenders to buy U.S. crude between October 2020 and March 2021 to European trader Trafigura, two sources said on Tuesday.

Details on grades, volume and prices were not immediately known.

IOC had sought up to 24 million barrels of U.S. crude for delivery between October 2020 and March 2021 as part of its efforts to diversify supplies after Middle East producers cut exports to comply with the OPEC+ output reduction agreement.

Reporting by Nidhi Verma in New Delhi and Florence Tan in Singapore; editing by Jason Neely

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