IOC tenders to buy more crude oil for May
LONDON- State-owned refiner Indian Oil Corp (IOC) has tendered to buy one or more cargoes of crude oil for loading in May, a tender document showed on Monday.
The tender, issued on Friday, specified up to 88 crudes or combinations of crudes to be offered into the tender, which will close on March 10 and March 11 with validity until March 12. Traders said they expected news of the award on Friday.
Most of the specified crude oil grades were Nigerian or Angolan. In the past IOC has tended to buy large volumes of West African crudes.
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