MC
Two Indian state refiners are seeking to boost imports of Saudi crude oil after the kingdom cut the official selling price of its key export grade for February to the lowest in 27 months, company sources said.
Indian Oil Corp, the country’s top refiner, and Bharat Petroleum Corp, are looking at lifting an additional 1 million barrels of oil each from Saudi Aramco in February, the sources said. Saudi Aramco typically notifies Asian buyers of their monthly crude allocations by the 10th of every month.
Indian oil companies did not respond to Reuters emails seeking comments, while Saudi Aramco declined to comment. IOC is seeking more oil from Saudi Arabia and West Africa partly as it is facing problems in buying Russian light sweet crude Sokol because of challenges in payments, one of the sources said.
