Glencore and Shell were said to have won the latest buying tender by Indian Oil Corp., an integrated energy major and one of India’s largest oil refiners, Reuters reports.
Indian Oil Corp. awarded its tender to buy crude for loading Nov. 1-10, accepting end-October barrels. Glencore is thought to be supplying Nigerian crude while Shell is providing Agbami and Kissanje, a trader said.
Indian Oil Corp. accounts for nearly half of India’s petroleum products market share, with sales of 83.5 million tonnes in 2016-17. Over 35% national refining capacity and 71% downstream sector pipelines throughput capacity are with Indian Oil Corp.
Indonesia’s Pertamina also closed a buy tender for November-delivery cargoes on Thursday. The result did not emerge immediately.