Indian Oil Corp (IOC) has purchased two very large crude carriers (VLCCs) of Qua Iboe, 140,000 tonnes of Gulf of Suez crude and a cargo of Miri in its November buying tender, traders said on Monday. It shunned offers of up to seven cargoes of Dubai crude, they said.
Traders said IOC purchased the Qua Iboe from US oil major Mobil Corp on a Brass River/Qau Iboe related basis. It purchased the Gulf of Suez crude from Amoco Corp around its official selling price (OSP) plus 20 cents per barrel. The Miri cargo was purchased from trader Glencore at OSP plus 10 cents.
Traders said up to seven cargoes were offered into the tender at prices between first half month quotes plus 16 cents to plus 18 cents.
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