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IOC buys 4 mn bbls Jan Angolan crude; seeks more
State-run Indian Oil Corp (IOC) has bought 4 million barrels of Angolan crude for January loading and issued its third tender for sweet grades to be lifted in the month, trade sources said on Monday.
State-run Indian Oil Corp (IOC) has bought 4 million barrels of Angolan crude for January loading and issued its third tender for sweet grades to be lifted in the month, trade sources said on Monday.
The refiner purchased two 1 million barrel cargoes of Girassol from Sonangol and oil trader Vitol respectively, three traders said. These cargoes were for lifting on January 8-9 and January 4-5, they said. These deals were not confirmed and no price details had emerged.
One trader said Vitol also sold IOC its end-December Nigerian Escravos cargo.
IOC bought via term agreement Sonangol's January 14-15 Cabinda and January 16-17 Nemba shipments, traders said.
The new tender, also for January loading grades, closes on November 24.
IOC last awarded a tender to buy 1 million barrels each of Nigerian Qua Iboe and Escravos crude in its first tender for January-loading cargoes.
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