IOC Plans To Buy N American Sour Crude For First Time

IOC Plans To Buy N American Sour Crude For First Time

State-owned Indian Oil Corp issued its first ever tender to buy high-sulphur, or sour, crude from North America as it seeks to diversify imports, three trade sources said on Tuesday.

India’s largest oil refiner is seeking to buy the crude grades Mars, Southern Green Canyon and Thunderhorse from the United States and Western Canadian Select from Canada in the tender, they said. Sellers are to deliver the oil in late September or early October, they said.

The first part of the tender will close on Tuesday and the second part on Wednesday. The tender will stay valid until Thursday.

Source Link – The Hindu Business Line

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