Essar Oil reportedly has awarded a rare term contract to trader Noble Group, for exporting up to 210,000 tonne of diesel for August to October loading. Essar has sold up to 70,000 tonnes a month of 500 ppm sulphur diesel for loading from Vadinar over August to October to Noble at a premium between $ 2.30 and $ 2.40 a barrel above Middle East quotes. Meanwhile, Noble is likely shipping the cargoes to Saudi Arabia
Essar Oil, in June last year, completed an upgrade to its refinery, thereby raising its capacity to 405,000 barrels a day, and the unit's complexity to handle cheaper, heavier grades.
Essar Oil is a fully integrated oil and gas company of international scale with strong presence across the hydrocarbon value chain from exploration and production to refining and oil retail.
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