India receives first crude oil cargo from the US -Governance Now

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

Report of India’s G20 Task Force on Digital Public Infrastructure released

The final ‘Report of India’s G20 Task Force on Digital Public Infrastructure’ by ‘India’s G20 Task Force on Digital Public Infrastructure for Economic Transformation, Financial Inclusion and Development’ was released in New Delhi on Monday. The Task Force was led by the

How the Great War of Mahabharata was actually a world war

Mahabharata: A World War By Gaurang Damani Sanganak Prakashan, 317 pages, Rs 300 Gaurang Damani, a Mumbai-based el

Budget expectations, from job creation to tax reforms…

With the return of the NDA to power in the recently concluded Lok Sabha elections, all eyes are now on finance minister Nirmala Sitharaman’s full budget for the FY 2024-25. The interim budget presented in February was a typical vote-on-accounts, allowing the outgoing government to manage expenses in

How to transform rural landscapes, design 5G intelligent villages

Futuristic technologies such as 5G are already here. While urban users are reaping their benefits, these technologies also have a potential to transform rural areas. How to unleash that potential is the question. That was the focus of a workshop – “Transforming Rural Landscape:

PM Modi visits Rosatom Pavilion at VDNKh in Moscow

Prime minister Narendra Modi, accompanied by president Vladimir Putin, visited the All Russian Exhibition Centre, VDNKh, in Moscow Tuesday. The two leaders toured the Rosatom Pavilion at VDNKh. The Rosatom pavilion, inaugurated in November 2023, is one of the largest exhibitions on the histo

Let us pledge to do what we can for environment: President

President Droupadi Murmu on Monday morning spent some time at the sea beach of the holy city of Puri, a day after participating in the annual Rath Yatra. Later she penned her thoughts about the experience of being in close commune with nature. In a message posted on X, she said: