Lates News

Three trade sources revealed on Wednesday that India's state-owned oil company Mangalore Refinery and Petrochemicals has purchased 1 million barrels of Omani crude oil through a tender process. The transaction price for this batch of crude is approximately $3 per barrel higher than the spot Brent crude benchmark price. One of the sources added that the seller is Mitsui & Co., Ltd. Energy Trading in Singapore. Meanwhile, the sources indicated that Indian Oil Corporation, the largest refinery in India by refining capacity, has procured 4 million barrels of West African crude oil, with Chevron as the seller.