Indian Oil Corporation (IOC) has reportedly commenced trading crude oil through its Singapore unit, buying a million barrels of Nigerian oil Akpo. IOC Singapore has bought the parcel from Total for December 8-17 loading.
The company has currently two officers in Singapore and it will gradually increase its workforce in line with transactions from the city-state.
Indian Oil Corporation (IOC) is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.