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IOC buys first Johan Sverdup crude cargoes; to get 2 million barrels in May-June

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.

Norway , Saudi-arabia , India , North-sea , Oceans-general , Oceans , Johan-sverdrup , Organization-of-petroleum-exporting-countries , Indian-oil-corporation , Middle-east , Petroleum-exporting-countries , Ioc

Indian Oil Buys Its First Norway's Johan Sverdrup Crude Cargoes: Report

Indian Oil Buys Its First Norway's Johan Sverdrup Crude Cargoes: Report
Indian Oil Buys Its First Norway's Johan Sverdrup Crude Cargoes: Report
The move follows the Indian government's call to cut dependence on crude from the Middle East in an escalating stand-off between India, the world's third-largest crude importer, and Saudi Arabia.
Updated: April 05, 2021 5:00 pm IST
State-run refiner Indian Oil Corporation (IOC) has made its first purchase of Norway's Johan Sverdrup crude, buying four million barrels via a tender as it speeds up diversification of crude imports, two trade sources told Reuters on Monday.
IOC will take delivery of two million barrels of the North Sea crude in each of May and June, one of the sources said. Further details on the trades were not yet clear.

Hindustan , India-general , India , Norway , United-states , Eagle-ford , Texas , Iran , Mangalore , Karnataka , China , Saudi-arabia

Indian Oil Corporation Buys Its First Johan Sverdrup Crude Cargoes: Sources; Further details on the trades were not yet clear

Indian state refiners plan to cut oil imports from Saudi Arabia by about a quarter in May
State-run refiner Indian Oil Corporation (IOC) has made its first purchase of Norway's Johan Sverdrup crude, buying four million barrels via a tender as it speeds up diversification of crude imports, two trade sources told Reuters on Monday. IOC will take delivery of two million barrels of the North Sea crude in each of May and June, one of the sources said.
Further details on the trades were not yet clear. The move follows the Indian government's call to cut dependence on crude from the Middle East in an escalating stand-off between India, the world's third-largest crude importer, and Saudi Arabia, the de-facto leader of the Organization of Petroleum Exporting Countries (OPEC).

Hindustan , India-general , India , Norway , United-states , Eagle-ford , Texas , Iran , Mangalore , Karnataka , China , Saudi-arabia