IOC buys first Johan Sverdup crude cargoes; to get 2 million barrels in May-June IOC will take delivery of 2 million barrels each of the North Sea crude in May and June Reuters | April 5, 2021 | Updated 15:36 IST State-run refiner Indian Oil Corporation (IOC) has bought 4 million barrels of Norway's Johan Sverdrup crude for the first time via a tender as it speeds up diversification of crude imports, two trade sources told Reuters on Monday. IOC will take delivery of 2 million barrels each of the North Sea crude in May and June, one of the sources said. Further details on the trades were not yet clear.