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

Manmohan Singh favours ‘time-tested measures’ for economy

The much hyped ‘double engine’ model of governance on which the BJP is seeking votes has utterly failed, and Mumbai and Maharashtra have had to face some of the worst effects of economic slowdown, former prime minister Manmohan Singh has said. A lot of problems facing Maharashtra

“If the oppn is weak you can’t blame the govt for that”

A three-term Rajya Sabha member, Sanjay Raut is the Shiv Sena spokesperson and its voice in parliament. He is also the executive editor of Marathi newspaper Samana, started by Shiv Sena founder Bal Thackeray. Raut spoke with Geetanjali Minhas on his party’s seat-sharing agreement

Ashish Shelar of BJP says, “We are very confident of victory”

Ashish Shelar, 47, was the president of the Mumbai city unit of the BJP, before he became the minister of school education, sports and youth welfare in the Maharashta government this year. He has represented the Vandre West constituency in the state assembly and seeking re-election. In a chat with

Nobel for economics goes to `global fight against poverty`

The Nobel Prize in economics for 2019 goes to Abhijit Banerjee, Esther Duflo and Michael Kremer "for their experimental approach to alleviating global poverty." The prize, known as “The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel”, was announc

Modi-Xi script a new chapter in bilateral relations

Prime minister Narendra Modi has accepted president Xi Jinping’s invitation to visit China in 2020 for their third informal summit after Wuhan and Mamallapuram, indicating both sides’ realization of the importance of the mechanism which gives the two leaders of the Asian giants an opportunity t

Dharma as the original Idea of India

Dharma: Hinduism and Religions in India By Chaturvedi Badrinath Edited by Tulsi Badrinath Penguin, 194+ xiii pages, Rs 499 How to live: That is the most fundamental question of human existence.



Archives

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter