Indian Oil Corporation to Buy American Crude Oil

State-owned Indian Oil Corporation floated its first tender to purchase high-sulfur, or sour, crude from North America as it seeks to diversify imports.

BusinessLine reports that India’s largest oil refiner is seeking to buy the crude grades Mars, Southern Green Canyon and Thunderhorse from the United States, and Western Canadian Select from Canada. Sellers are to deliver the oil in late September or early October.

Indian Oil Corporation

Indian refiners consider these heavy, high-sulfur grades as feedstocks. After effecting modifications at their plants, these types of crude grades are easier to process and they typically sell at a lower cost compared to other oil types. The U.S. could become an alternative source for the Indian companies for these grades.

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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