BP Amoco and Arcadia win Indian Oil tender

Vol 5, PW 17 (10 Oct 01) News in Brief

Oil traders tell Petrowatch Indian Oil has awarded two crude import tenders on 28th September.

The first went to BP Amoco for 1m barrels of Gulf of Suez crude to be delivered FOB in November. Price is Dubai minus $0.12/barrel.

Oil trader Arcadia bagged the second tender for 500,000 barrels of Masila (Yemeni) crude for FOB delivery in November. We are told the price is Brent minus $0.85/barrel.

Indian Oil has also issued two tenders on 3rd October for kerosene. One parcel of 30,000 tonnes is for Mumbai delivery and the other of 45,000 tonnes is for delivery on the east coast.

Both tenders close on 11th October.