India to receive first ever shipment of US oil tomorrow

Indian Oil Corp (IOC) in early July booked the first US cargo, opening floodgates that saw other state-owned refiners 

India to receive first ever shipment of US oil tomorrow
A shipping oil container delivering crude oil. Photo: Pixabay
By PTI
Updated: Sun, Oct 01, 2017
01:10 pm
Mumbai, PTI
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Key highlights:

  • India will tomorrow receive its first ever shipment of US crude oil 
  • Indian Oil Corp (IOC) in early July booked the first US cargo
  • The ship carrying 1.6 million barrels of US crude will reach Paradip sometime around midnight tonight

India will tomorrow receive its first ever shipment of US crude oil when a very large crude carrier (VLCC) docks at Paradip port in Odisha.

Indian Oil Corp (IOC) in early July booked the first US cargo, opening floodgates that saw other state-owned refiners including Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) rush to buy US crude oil.

"The ship carrying 1.6 million barrels of US crude will reach Paradip sometime around midnight tonight or early tomorrow morning," IOC Chairman Sanjiv Singh told

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)