Indian Oil and HPCL Secure 8 Million Barrels of Crude Through Global Tenders

Indian state-owned refiners Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Limited (HPCL) have purchased a combined 8 million barrels of crude oil through international tenders, according to trade sources. The acquisitions are aimed at meeting upcoming refinery requirements, although pricing details of the deals were not disclosed.

IOC secured around 5 million barrels of crude from multiple suppliers, including Angola’s Kissanje, Nemba, and Dalia grades, as well as Nigeria’s Agbami and Usan crude. The shipments are expected to arrive between late August and early September, ensuring steady supplies for the refiner during the coming months.

HPCL, meanwhile, purchased 2 million barrels of Brazil’s Tupi crude and an additional 1 million barrels of Kazakhstan’s CPC crude for delivery in August and September. Like most state refiners, both IOC and HPCL have not commented publicly on their commercial procurement activities.

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