Reliance Industries has purchased 1 million barrels of heavy crude from Kuwait Petroleum Corp via a tender, four trade sources said. Last week, KPC issued a tender to sell crude oil that the Al-Zour refinery is unable to process because of unplanned maintenance after a fire.

Reliance secures 1 million barrels of Kuwaiti crude

The cargoes – 500,000 barrels of Kuwait Heavy Crude for loading on December 6 to December 7 and the same volume of Eocene crude for loading on December 8 to December 9 – were awarded to Reliance, the people said.The prices for the purchase were not immediately clear.

Reliance industries halted Russian oil purchases last month after Russian producers Rosneft and Lukoil were sanctioned by the United States. The Indian refiner has bought at least 12 million barrels of spot crude from the Middle East and the Americas, Reuters has reported.
Source: Reuters