Indian Oil Corporation (IOC) has purchased three million barrels of West African crude oil via a tender for June lifting, including a rare purchase of Nigeria’s Okwuibome grade. The company has bought million barrels of Okwuibome oil from trader Glencore as a trial cargo for processing at some of its own plants.
Further, the company bought a very large crude carrier containing about a million barrels each of Nigeria’s Zafiro and Qua Iboe grades.
IOC, along with subsidiary Chennai Petroleum, controls about 31% of India's oil refining capacity of 4.3 million bpd.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1365.10 |
| Indian Oil Corp. | 145.85 |
| BPCL | 312.05 |
| HPCL | 370.95 |
| MRPL | 183.20 |
| View more.. | |
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