Published on 12/01/2018 8:50:01 AM | Source: Reuters

India's IOC buys U.S. Light Louisiana Sweet oil via tender

Posted in Company News| #Crude Oil #Oil and Gas Sector #IOC

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NEW DELHI (Reuters) - India's top refiner Indian Oil Corp has bought 2 million barrels of U.S. Light Louisiana Sweet (LLS) crude via a tender for April delivery, its head of finance A. K. Sharma said on Thursday.

This is the first purchase of LLS crude by an Indian refiner.

IOC has purchased the sweet oil from trader Trafigura, he said.

IOC will import the cargo at the eastern port of Paradip.

IOC will process the crude at its Mathura and Barauni refineries, he said.

This is the third purchase of the U.S. oil by IOC, Sharma said.

(Reporting by Nidhi Verma; Editing by Mark Potter)