Reuters logo
Asia Crude-India HPCL buys 2 mln bbls Qua Iboe for Nov
September 27, 2012 / 4:55 AM / 5 years ago

Asia Crude-India HPCL buys 2 mln bbls Qua Iboe for Nov

NEW DELHI, Sept 27 (Reuters) - Indian state-run refiner Hindustan Petroleum Corp Ltd has bought 2 million barrels of Nigerian Qua Iboe via a tender for lifting in November, its first purchase of oil in a very large crude carrier (VLCC), a source privy to the deal said.

HPCL has so far been buying crude in Suezmax vessels.

The refiner has bought the crude from trader Glencore at a premium of $2.60 to $2.80 a barrel over the dated Brent price for processing at its 166,000 barrels per day (bpd) Vizag refinery in southern India, the source said.

HPCL also operates a 130,000 bpd plant in Mumbai and has a stake in the 180,000 bpd Bhatinda refinery in the northern state of Punjab.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below