Source: Reuters (via feed)
India’s state-run Hindustan Petroleum has purchased 2 million barrels of Angolan oil via a tender, according to three trade sources. The purchase reflects reduced availability of costly Middle Eastern crude. This shortage is leading Indian refiners to buy more West African and Asia-Pacific grades.
BizTrendWire Insight:
The purchase illustrates an example of Indian refiners acquiring West African oil amid pricing and availability challenges of Middle Eastern crude.
The purchase illustrates an example of Indian refiners acquiring West African oil amid pricing and availability challenges of Middle Eastern crude.