India receives first crude oil cargo from the US

IndianOil, which became the first Indian public sector refiner to source US crude, has placed a cumulative order of 3.9 million barrel from the United States

GN Bureau | October 6, 2017


#PSU   #IndianOil   #US crude   #Paradip   #Bharat Petroleum   #Hindustan Petroleum  

 The first US crude oil cargo carrying 1.6 million barrel crude oil, bought by IndianOil Corporation (OICL), from the US was received at Paradip port. 

 
The crude carrier — MT New Prosperity, having capacity of 2 million barrels of crude, left US gulf coast on August 19 and arrived at Paradip on October 2. IOCL will process the crude at its East-Coast base refineries at Paradip, Haldia, Barauni and Bongaigaon.
 
IndianOil which became the first Indian public sector refiner to source US crude has placed a cumulative order of 3.9 million barrel from the United States. 
 
“Inclusion of the US as a source for crude oil imports by India’s largest refiner will go a long way in mitigating the risks arising out of geo-political disruptions,” ministry of petroleum and natural gas’s joint secretary (international cooperation), Sunjay Sudhir said. 
 
Bharat Petroleum Corporation and Hindustan Petroleum Corporation, India’s two other public sector refiners, have also placed orders for about 2.95 million barrels and 1 million barrels respectively for their Kochi and Vizag refineries from the US. 
 
The total volume of the crude presently contracted by Indian public sector refineries is, therefore, 7.85 million barrels. The three refiners are sourcing sweet, sour and heavy crudes for their refineries which are equipped to handle complex mix of crude oils.
 

Comments

 

Other News

New study tracks heat wave; exposes dangerous trends in big cities

An unprecedented heat wave has been enveloping Indian cities, worsening the urban heat island effect, this summer. A new analysis by Centre for Science and Environment (CSE) says there are far deeper and longer term evidences on the nature of this changing trend that is impacting the biggest cities of the

Phase 6: Voter turnout 59.06% at 7:45 PM

Polling in the sixth phase of General Elections 2024 which commenced across 58 PCs recorded an approximate voter turnout of 59.06% as of 7:45 pm Saturday. In spite of hot weather in certain parts of the country, voters were undeterred in their enthusiasm as they were seen queuing up patient

Banks not adhering to RBI guidelines, finds study

Banks across India are levying inconsistent service charges on basic savings accounts. A study, “Benchmarking Reasonableness of Service Charges by Banks in India”, uncovers and exposes inconsistencies in adherence to RBI mandates by banks. It finds some banks impose charges exceeding reasonable

“Mumbai Infra boom similar to that of Manhattan in 19th C”

Mumbai’s ongoing infrastructure boom – with a new coastal road, Atal Setu, metro lines and much more – creating transport corridors – is comparable to that of Manhattan in New York during 1811-1870, according to BMC commissioner Bhushan Gagrani. The iconic projects being implemented

Global Gandhi: How the Mahatma captured the world’s imagination

Gandhi’s Australia, Australia’s Gandhi By Thomas Weber Orient BlackSwan, 348 pages, Rs 1,800  

Urban apathy in Mumbai, Maharashtra sees 49% voting

Polling in the fifth phase of General Elections 2024 which commenced at 7 am on Monday simultaneously across 49 PCs recorded an approximate voter turnout of 57.47% as of 7:45 pm. Voters came out in large numbers braving hot weather in many parts of the states that went for polls on Monday.

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter