IOC buys 3 million barrels Mideast crude via tenders, sources say
28/08/2026 10:12
IOC buys 3 million barrels Mideast crude via tenders, sources say SINGAPORE, Aug 28 (Reuters) - Indian Oil Corp has bought 3 million barrels of Middle Eastern crude for delivery between end-September and early October via tenders, trade sources said on Friday.
The refiner bought 1 million barrels of Umm Lulu from ADNOC at a premium of more than $8 a barrel to September dated Brent on a delivered at port (DAP) basis in its low-sulphur crude purchase tender.
For its high-sulphur crude tender, IOC bought 2 million barrels of Basrah Heavy crude from Vitol at $5.50 a barrel above September Dubai quotes DAP.
The companies typically do not comment on commercial deals.
(Reporting by Nidhi Verma and Siyi Liu
Editing by Tomasz Janowski)
((Florence.Tan@thomsonreuters.com;))
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