Indian Oil, HPCL buy 7 million barrels of crude via tenders, trade sources say

SINGAPORE/NEW DELHI: Indian state refiners Indian Oil Corp and Hindustan Petroleum Corp have together purchased about 7 million barrels of crude oil through ‌tenders ⁠last ⁠week, trade sources said on Monday.

Prices ​for the deals were not immediately available.

IOC bought about 1 million barrels of Angola's Kissanje crude from Cathay Petroleum, the ⁠sources said. ‌It also purchased 2 million barrels of Nigeria's Agbami ⁠and Usan crude from Trafigura, and a further 2 million barrels of Angola's Nemba and Dalia crude from Chevron.


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The cargoes are scheduled for delivery between late August and early ‌September.

Separately, HPCL bought 2 million barrels of Brazil's ​Tupi crude, ​the sources ⁠said. The cargoes are scheduled for delivery in August and September.

The companies ​typically do not comment on their commercial sales.