State-owned Hindustan Petroleum Corporation (HPCL) reportedly, via tender from BP, has bought at least 1 million barrels of Nigerian Qua Iboe crude oil. Although the cargo is due to load in July, its exact loading dates were not available. Meanwhile, refiners Indian Oil Corporation (IOC) and Bharat Petroleum Corporation (BPCL) are also due to purchase light, sweet crude oil this week.
Recently, HPCL reportedly bought 2 million barrels of Nigeria’s Qua Iboe crude from Vitol Group for loading from June 1 to June 30, via tender. Vitol Group sold a cargo of North Sea Forties crude, it’s eighth since March 28, as the price dropped to the lowest in more than a week.
