Reliance buys 1 MMbbl of crude from Kuwait's KPC, trade sources say
India's Reliance has purchased 1 MMbbl of heavy crude from Kuwait Petroleum Corp. via a tender, four trade sources said.
Last week, KPC issued a tender to sell crude oil that the Al-Zour refinery is unable to process because of unplanned maintenance after a fire.
The cargoes - 500,000 bbl of Kuwait Heavy Crude for loading on December 6 to December 7 and the same volume of Eocene crude for loading on December 8 to December 9 - were awarded to Reliance, the sources said.
The prices for the purchase were not immediately clear.
Reliance halted Russian oil purchases last month after Russian producers Rosneft and Lukoil were sanctioned by the United States. The Indian refiner has bought at least 12 MMbbl of spot crude from the Middle East and the Americas, media has reported.
Comments