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India IOC buys 5 milllon barrels of July crude-trade

State-owned Indian Oil Corp (IOC) bought on Friday 4 million barrels of West African and 1 million barrels of Yemini crude for July loading via a regular monthly tender, trade sources said.
Reuters | By HT Correspondent, New Delhi
UPDATED ON MAY 07, 2010 05:37 PM IST

State-owned Indian Oil Corp (IOC) bought on Friday 4 million barrels of West African and 1 million barrels of Yemini crude for July loading via a regular monthly tender, trade sources said.

India's largest refiner purchased 1 million barrels each of Nigerian Forcados and Escravos crude oil grades from oil trader Vitol to load in a Very Large Crude Carrier (VLCC), they said.

IOC also bought another VLCC from Vitol to be loaded with 1 million barrels each of Forcados and Angolan Nemba, while it picked up 1 million barrels of Yemini Masila crude from Unipec, traders said. Price details had yet to emerge.

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