India's IOC to lift oil cargo from Iran in September

India’s IOC to lift oil cargo from Iran in September

Indian Oil Corp, the country's biggest oil refiner, plans to lift an oil cargo from Iran in September, its head of finance said on Thursday.

August 9, 2012 4:10 by Eva Fernandes

Indian Oil Corp, the country’s biggest oil refiner, plans to lift an oil cargo from Iran in September, its head of finance said on Thursday.

The state-owned refiner imported oil from Iran in May, according to data available with Reuters.

IOC aims to import 30,000 barrels per day (bpd) from Iran in this fiscal as against 42,000 bpd imported last year, P. K. Goyal told reporters.

He also said the refiner has allowed trader Vitol to participate in its tenders after a one-year gap.

“Vitol agreed to our terms so we have allowed them,” he said without elaborating.

(Reporting by Nidhi Verma; Editing by Jijo Jacob)

Tags: Indian oil Corp, Iran, New Delhi, oil cargo, trader Vitol

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