Saudi Aramco offers alternative crude oil grade to Indian Oil Corp: Source

Indian Oil Corp was offered Arab Heavy crude oil by Saudi Arabia, says an industry source. (File photo: Reuters)

Saudi Aramco has offered Indian Oil Corp Arab Heavy crude oil instead of Arab Light following the attacks on its oil facilities over the weekend, an industry source told Reuters on Tuesday.

IOC will receive full allocated volumes from Saudi Aramco in September and October, the source said, declining to be named as he was not authorized to speak with the media.

However Aramco has said they would give some volumes of Arab heavy instead of Arab mix oil, the source added. This indicates that Saudi is offering heavy grade instead of light as Arab Mix is a combination of Arab light and heavy.

No immediate comment was available from IOC.

Last Update: Wednesday, 20 May 2020 KSA 09:56 - GMT 06:56