Indian Oil buys 1 million barrels of Iraqi oil from Oct lifting; traders say
Indian Oil buys 1 million barrels of Iraqi oil from Oct lifting; traders say NEW DELHI, Sept 25 (Reuters) - Indian Oil Corp IOC.NS, the country's largest refiner, has bought 1 million barrels of Iraqi oil on free on board basis for October loading under a tender issued by Iraq's state-run SOMO, two trade sources familiar with the matter said.
IOC bought the cargo at a discount of $23-$28 per barrel to the Dubai benchmark, the sources said.
Separately, IOC is also is seeking up to 2 million barrels of Basrah Medium and Basrah Heavy crude on free-on-board basis for October 21-31 lifting with the price linked to the October Dubai benchmark, the sources said.
The tender is closing later on Friday, the sources added.
(Reporting by Nidhi Verma;Editing by Elaine Hardcastle)
((nidhi.verma@thomsonreuters.com; X: @nidhi712;))
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