financetom
Market
financetom
/
Market
/
Indian Oil buys 3 million barrels of Urals for May loading
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Indian Oil buys 3 million barrels of Urals for May loading
Mar 23, 2022 11:09 PM

Indian Oil Corp, the country's top refiner, on Wednesday bought 3 million barrels of Russian Urals and 2 million barrels of West African oil through a tender for May loading, trade sources said.

Share Market Live

NSE

Urals crude has been purchased from trader Vitol on delivered basis at a "discount", they said.

This is the second purchase of Urals by IOC since Russia invaded Ukraine on Feb. 24. It bought similar volumes of Urals from Vitol earlier this month for delivery in May.

The invasion has prompted a barrage of sanctions that have limited Russia's ability to do business in major currencies and hit several of its banks and state-owned enterprises.

India has called for an end to violence in Ukraine but refrained from outright condemnation of Russia, with which it has long-standing political and security ties.

Also Read:

Exclusive: Fuel price hikes to continue for sometime in 'small doses', say sources

The world's third-biggest consumer and importer of oil has also not banned Russian oil imports, unlike several Western countries.

IOC also purchased a million barrels each of Nigerian Usan and Agbami oil from Exxon, the trade sources said.

Also Read: Countries need to stop producing oil and natural gas: Study

The companies typically do not comment on commercial deals.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Janus Henderson fund manager says investors should cut exposure to stocks as recession looms
Janus Henderson fund manager says investors should cut exposure to stocks as recession looms
Apr 11, 2025
NEW YORK (Reuters) -Janus Henderson ( JHG ), which manages $379 billion in assets, is advising investors to cut stock holdings and buy more investment-grade sovereign bonds as tariffs threaten to slow global growth, its global head of its multi-asset strategy said. Janus Henderson ( JHG ) now recommends a portfolio of 55% equities and 45% bonds, compared with its...
Top Midday Stories: China Raises US Tariffs to 125%; Big Banks Kick Off Earnings Season
Top Midday Stories: China Raises US Tariffs to 125%; Big Banks Kick Off Earnings Season
Apr 11, 2025
11:48 AM EDT, 04/11/2025 (MT Newswires) -- US stock indexes were mixed in late-morning trading Friday after China raised tariffs on US imports to 125% and the latest consumer sentiment data came in below expectations. In company news, JPMorgan Chase ( JPM ) reported Q1 earnings Friday of $5.07 per diluted share, up from $4.44 a year earlier and above...
Janus Henderson fund manager says investors should cut exposure to stocks as recession looms
Janus Henderson fund manager says investors should cut exposure to stocks as recession looms
Apr 11, 2025
* Janus Henderson ( JHG ) recommends 55% equities, 45% bonds amid recession fears * Tariffs threaten global growth, prompting shift to investment-grade bonds * Potential recovery catalysts in Europe and China include fiscal stimulus (Adds title in headline, first paragraph,) By Saeed Azhar NEW YORK, April 10 (Reuters) - Janus Henderson ( JHG ), which manages $379 billion in...
US STOCKS-Wall St muted on tariff worries, big banks kick off earnings season
US STOCKS-Wall St muted on tariff worries, big banks kick off earnings season
Apr 11, 2025
(For a Reuters live blog on U.S., UK and European stock markets, click or type LIVE/ in a news window) * Indexes: Dow down 0.08%, S&P 500 flat, Nasdaq up 0.23% * JPMorgan ( JPM ) up after beating quarterly profit estimates * Beijing increases tariffs on US imports to 125% * S&P 500, Nasdaq set for best week since...
Copyright 2023-2025 - www.financetom.com All Rights Reserved