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Indian Oil, HPCL buy 2 mln bbls Venezuelan oil from Trafigura - trade sources
India's top refiner, Indian Oil ?Corp and Hindustan Petroleum Corp ?have together bought 2 million barrels of Venezuelan crude Merey from trader Trafigura for delivery ?in the second ?half of April, trade sources said.
The purchase ?of Venezuelan ?oil is the first by HPCL, with IOC having previously bought Venezuelan oil in 2024
The pricing of Merey is linked to the Dubai benchmark and reflects similar rates at which Reliance Industries bought Venezuelan ?oil from trader Vitol, said ?one of the sources, who ?all spoke on condition of anonymity.
Source: The Hindu Business Line
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