Indian Oil Corp, the country’s largest state refiner, has bought nearly 20 million barrels of crude from West Africa and the Middle East for delivery in early 2021, three trade sources said on Monday.
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The refiner purchased the cargoes over three rounds of tenders this month for deliveries in January and February, they said.
Low-sulfur crude from Nigeria and Angola made up the bulk of the supplies, the sources said, while IOC also bought 4 million barrels of high-sulfur Abu Dhabi crude.
The grades included Erha, Forcados, Girassol, Upper Zakum, Das and Murban, they said.