Indian Iraqi talks to purchase 4 million barrels of Basra crude
Representational file photo.
(IraqiNews.com) Baghdad – Indian sources confirmed on Wednesday that two Indian refiners are holding talk with the Iraqi Oil Marketing Company “Sumo” to purchase four million barrels of Basra light crude oil for the strategic reserves of India.
“Reuters” news agency said:” Indian Oil Corp and Hindustan Petroleum Corp have decided to directly negotiate with Iraq’s State Oil Marketing Organisation (SOMO) to purchase 4 million barrels of Basra light crude oil for India’s strategic petroleum reserves,” noting that, ” the indications were that SOMO would supply the refiners with Basra light crude at the official selling price. ”
The sources said the refiners were looking for the oil supplies to arrive in the next two to three months.