Reliance Buys 1 Million Barrels of Heavy Crude from Kuwait Petroleum
India’s Reliance Industries has secured 1 million barrels of heavy crude from Kuwait Petroleum Corporation (KPC) through a recent tender, according to four trade sources. The tender was issued after unplanned maintenance and a fire at the Al-Zour refinery left KPC unable to process certain crude grades. The awarded cargoes include 500,000 barrels of Kuwait Heavy Crude scheduled for loading between December 6–7, and another 500,000 barrels of Eocene crude set for loading between December 8–9.
The purchase prices for the crude volumes have not yet been disclosed. Reliance, one of India’s largest refiners, has been actively sourcing alternatives after halting Russian oil imports last month. The pause followed U.S. sanctions imposed on major Russian producers Rosneft and Lukoil, prompting Reliance to diversify its crude supply sources.
According to earlier Reuters reports, the company has already acquired at least 12 million barrels of spot crude from the Middle East and the Americas to fill the supply gap. The latest deal with Kuwait underscores Reliance’s continued efforts to secure stable feedstock amid shifting global energy dynamics.
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