Indian Oil Corpn.

SINGAPORE, Oct 7 (Reuters) - Middle East crude benchmarks Oman and Dubai fell for a third straight session on Wednesday with premiums slipping under $10 a barrel as Gulf supplies were still shipped out despite rising attacks on tankers in the Strait of Hormuz.

SINGAPORE CASH DEALS

Cash Dubai's premium to swaps fell 61 cents to $9.84 a barrel.

Trafigura will receive a December-loading Murban crude cargo from Unipec and an Oman crude cargo from Mercuria.

PRICES ($/BBL)

TENDERS

Indian Oil Corp, the country's largest refiner by capacity, has bought 3 million barrels of Middle Eastern and west African crude for November delivery to various Indian ports via a tender, multiple traders who participate in the market said.

The purchases include sold 1 million barrels of Abu Dhabi Murban crude for delivery to Vadinar at $13-$14 a barrel above dated Brent sold by Trafigura. Mercuria sold 1 million barrels of Iraqi Basrah Medium crude for delivery to Chennai at about parity to dated Brent while Chevron sold 1 million barrels of Angolan Nemba crude at $18 a barrel above dated Brent.

REFINERY

Venezuela halted the Cardon refinery, its second-largest with a capacity of 310,000 barrels per day, after a fire sparked by a ruptured natural gas line, state-run oil company PDVSA said late on Tuesday while it evaluates the situation.

Shell SHEL.L expects third-quarter refining margins to jump to $42 a barrel, a record high and sharply above $24 a barrel in the previous quarter, the oil major said on Wednesday.

NEWS

Chinese independent refiners have stepped up purchases of crude from Iraq and Qatar for October and November delivery to replace dwindling Iranian supplies, as exports from other Gulf producers through the Strait of Hormuz recover, traders said.

Saudi Energy Minister Prince Abdulaziz bin Salman said on Tuesday that oil pumped through the East-West Pipeline, which runs to the kingdom's Red Sea export hub of Yanbu, reached 5.8 million barrels as of Tuesday morning.

The governing board of the International Energy Agency will hold an informal meeting at 1300 local time (1100 GMT) on Wednesday to discuss a proposed release of oil and diesel stocks, two European Union diplomats said.

The US Energy Information Administration raised its oil price forecast for this year and next year on Tuesday, as global stockpiles fall rapidly and diesel markets remain tight due to the ongoing Iran war.

The amount of oil in storage that is accessible to the global market is running low, industry executives said at a forum in London this week, making the market more fragile and putting upward pressure on prices.

The disruption caused by the Iran war is forcing the energy industry to rethink its just-in-time approach to efficient supply chains and to consider investing in alternative routes which bypass the Gulf and the Red Sea.

For crude prices, oil product cracks and refining margins, please click on the RICs below.

(Reporting by Florence Tan; Editing by Jochelle Mendonca)

(([email protected];))

RECENT CRUDE OIL TRADES:
Asia ACRU/T  Europe CRU/T Americas CRU/TU
      
CRUDE OIL MARKET NEWS      
Crude oil tenders in Asia                       CRU/TENDA
Crude oil supply outages in Asia                CRU/OUT-ASIA-O      
Refinery outages in Asia                        REF/OUT-ASIA-O      
Global arbitrage news and flows                 O/CRUDEARB      
W.African crude imports to Asia,  monthly       O/WAFRICA1      
REFINERY MAINTENANCE DIARIES      
Asia REF/A   Middle East REF/ME   Europe REF/E      
                       
NATIONAL CRUDE IMPORT DATA      
Japan     METI/JP1   China   O/CHINA1      
India     O/INDIA2   S.Korea O/KOREA1      
Indonesia O/INDO1-CRU         
                       
CRUDE OIL INVENTORY DATA      
Japan O/JAPAN1  US EIA/S  Europe O/EUROIL1      
                    
CRUDE OIL PRODUCTION/OILFIELD NEWS      
OPEC output survey OPEC/O          New Africa fields    AFR/NEW 
New projects       ENERGY/NEW      New Americas  fields AM/NEW
CRUDE OIL MARKET REPORTS      
Middle East             CRU/MAsia-Pacific         CRU/AP      
West Africa             CRU/WAF  North Sea            CRU/E      
Asia outlook            ASIA/CRU Europe outlook       EUR/CRU      
Global futures report   O/R      Technicals report    O/I      
                            
PRICES      
For all Official Selling  Prices       OSP/O      
For a POLL on oil  prices              O/POLL      
NYMEX and ICE oil  futures             OILOIL      
TOCOM crude oil  futures               0#JCO:      
Dubai, Oman swaps and  spread          ASIA/SWAP/CRUDE      
Middle East physical crude diffs       CRUDE/ASIA2      
Australia physical crude, Tapis swaps  CRUDE/ASIA1      
Asia-Pacific physical crude            CRUDE/ASIA3      
All Asian crude oil  differentials     0#C-DIF-A
All Asian crude oil outright  prices   0#C-A

Oct 1 (Reuters) - Indian Oil Corporation Limited IOC.NS:

• CLARIFIES ON MEDIA REPORT “INDIAN OIL PLANS TO LAUNCH PACKAGED DRINKING WATER UNDER OWN BRAND ACROSS 43,000 FUEL OUTLETS”

• INITIATIVE IS A ROUTINE COMMERCIAL PROPOSAL TO AUGMENT NON-FUEL REVENUE OF CO

Source text: [ID:]

Further company coverage: IOC.NS

(([email protected];))

Updates with background in bullet points 3, 4 and 5

Sept 30 (Reuters) - India has cut windfall taxes on exports of diesel and aviation turbine fuel effective October 1, according to a government order issued late on Wednesday.

• The export duty on diesel was reduced to 16 rupees per litre from 20 rupees per litre, while the levy on aviation turbine fuel was cut to 10.5 rupees per litre from 15 rupees per litre, the order showed.

• The duty on petroleum exports remains unchanged at 0.5 rupees a litre.

• India first imposed windfall taxes on fuel exports in July 2022 and withdrew them two years later.

• The government reintroduced the tax in March 2026 after crude prices jumped during the US-Israeli war on Iran.

• The export duties are currently reviewed every fortnight and adjusted in line with movements in international crude oil and petroleum product prices.

(Reporting by Nikunj Ohri, writing by Bipasha Dey; Editing by Kirsten Donovan)

(([email protected];))

By Sarita Chaganti Singh and Sethuraman N R

NEW DELHI, Sept 26 (Reuters) - India has ordered more than 100 captive coal-fired power plants to operate at maximum capacity from October 1 through year-end to meet what it expects will be a rise in electricity demand.

• The federal power ministry's order, invoked under emergency provisions of the Electricity Act, applies to plants with installed capacity of at least 50 megawatts

• The aim is to meet an "expected rise in electricity demand in the coming months," showed the order dated September 25 and seen by Reuters

• Nearly 40% of coal-fired plants are operating with critically low fuel stock due to a surge in power demand as the El Niño climate phenomenon raises temperatures more than usual

• The plants primarily serve industrial facilities such as aluminium smelters, steel manufacturers, cement factories and oil refineries

• The power ministry has directed generators to sell surplus electricity through power exchanges

• The order covers 112 plants belonging to companies including Vedanta VDAN.NS, Tata Steel TISC.NS, Hindalco Industries HALC.NS, JSW Steel JSTL.NS, UltraTech Cement ULTC.NS, Reliance Industries RELI.NS, Indian Oil IOC.NS, Bharat Aluminium BHLNO.UL, Hindustan Zinc HZNC.NS and Nayara Energy

• The ministry has ordered plants to report weekly to the Central Electricity Authority detailing generation, captive consumption, power sales, available capacity and coal stocks

• Separately, the ministry has extended an earlier emergency order requiring Tata Power's TTPW.NS imported coal-fired plant in Mundra, Gujarat, to operate at full capacity until December 31, citing the demand situation

• Section 11 of the Electricity Act allows the government, under extraordinary circumstances, to direct generators to operate power stations in accordance with its instructions

(Reporting by Sethuraman NR and Sarita Chaganti Singh; Editing by Christopher Cushing)

(([email protected]; (+91 9945291420); Reuters Messaging: [email protected]))

By Nidhi Verma

NEW DELHI, Sept 25 (Reuters) - Indian state-owned LPG importers have issued a joint tender seeking around 2.75 million metric tons of liquefied petroleum gas from the United States for delivery in 2027, a document reviewed by Reuters showed on Friday.

• Indian Oil IOC.NS, Bharat Petroleum BPCL.NS and Hindustan Petroleum HPCL.NS are seeking four very large gas carrier cargoes per month.

• Each cargo would have a volume 46,000 tons, evenly split between propane and butane, on a delivered basis every month during 2027.

• The tender also seeks one 45,000-ton cargo each month on free-on-board basis, the tender said.

• The tender is valid until October 22.

• LPG is a mixture of propane and butane.

• India is the world's second-largest importer of LPG, behind only China.

• It sourced about 90% of its 21.85 million metric tons of LPG imports from the Middle East in 2025, with imports accounting for around 66% of India's total LPG consumption, government data shows.

• The U.S.-Israeli war on Iran, which began at the end of February, causing severe disruption of fuel supplies, led the Indian government in March to invoke emergency measures to divert petrochemical feedstocks from industry ​to households, which use LPG as cooking gas.

(Reporting by Nidhi Verma, writing by Mohi Narayan; editing by Barbara Lewis)

(([email protected]; https://twitter.com/_mohi_;))

SINGAPORE, Sept 24 (Reuters) - For spot crude tender news stories please click.....CRU-O/TEND-O

For tenders on oil products please click:

Naphtha......NAP/TENDA Gasoline...MOG/TENDA

Jet/Diesel...MDIS/TENDA Fuel Oil...FUEL/TENDA

OUTSTANDING ASIA/MIDEAST CRUDE OIL TENDERS: (b = buys / s = sells)

* tender award, ** tender issue, *** further updates

(Reporting by Siyi Liu in Singapore; Editing by Rashmi Aich)

(([email protected];))

Sept 21 (Reuters) - Indian Oil Corporation Limited IOC.NS:

• ACCORDED INVESTMENT APPROVAL FOR LAYING, BUILDING, OPERATING KOCHI-KANYAKUMARI-THOOTHUKUDI NATURAL GAS PIPELINE

• INVESTMENT FOR 24.49 BILLION RUPEES

Source text: ID:nBSE1xb7Fr

Further company coverage: IOC.NS

(([email protected];))

Sept 3 (Reuters) - Inox Wind Limited INWN.NS:

• INOX WIND LIMITED - SECURES REPEAT TURNKEY ORDER FROM INDIAN OIL CORPORATION

• INOX WIND LIMITED - 100 MW TURNKEY ORDER WITH A CONTRACT VALUE OF APPROXIMATELY 7.55 BILLION RUPEES

Source text: ID:nBSE67JjmK

Further company coverage: INWN.NS

(([email protected];;))

Aug 31 (Reuters) -

• INDIAN OIL CORP EXEC - INDIAN OIL TO OPERATE ITS FIRST SUSTAINABLE AVIATION FUEL PLANT AT PANIPAT REFINERY IN 2 MONTHS

• INDIAN OIL CORP EXEC - HOPES TO MAKE AN INVESTMENT DECISON FOR THE SECOND SAF PLANT WITHIN 5-6 MONTHS

• INDIAN OIL CORP EXEC - CO HAS NO PLAN AS OF NOW TO ISSUE BONUS SHARES

Further company coverage: IOC.NS

(([email protected];;))

Aug 20 (Reuters) - Indian Oil Corporation IOC.NS on Thursday said it had signed a multi-year fuel supply agreement with Mauritius' State Trading Corporation, deepening energy ties between the two countries and securing an export outlet for India's largest refiner.

The agreement, backed by both governments, underscores India's push to expand its energy footprint in the Indian Ocean region as it competes with China for influence among island nations.

IOC said on X the agreement covers a five-year supply of petroleum products to the Mauritian state buyer and forms part of a government-to-government memorandum of understanding on cooperation in petroleum and gas, biofuels, sustainability and other emerging energy areas.

(Reporting by Anuran Sadhu in Bengaluru; Editing by Shreya Biswas)

(([email protected]; +91 8697274436;))

NEW DELHI, Aug 17 (Reuters) - India's state-owned Khanij Bidesh India Limited (KABIL) is expected to start lithium extraction in Argentina in the next four to five years after completing project feasibility, a parliamentary panel report on its operations said.

In 2024, KABIL signed a 2 billion-rupee ($20.92 million) lithium exploration pact for five blocks in Argentina.

• The government of Catamarca in Argentina has offered seven additional greenfield lithium brine blocks under the existing agreement, which KABIL is evaluating, according to the report.

• KABIL is in the process of signing a preliminary agreement with the Ministry of Production and Mining of the Province of Salta, Argentina and Energy and Mining Resources Salta SA to collaborate on lithium projects in Salta.

• Discussions are also underway for obtaining two greenfield lithium brine projects in Jujuy province.

• Two additional projects are being evaluated by KABIL and Oil India and KABIL and Indian Oil Corp.

• KABIL flagged delays in Argentina because of lack of expertise in handling lithium brine deposits.

• In Australia, KABIL, along with Oil India, Coal India and NLC India was evaluating two lithium projects.

• The panel confirmed a Reuters report that KABIL's lithium project in Mali with Uranium One Group, a subsidiary of Rosatom, was kept on hold due to "recent socio-political instability".

• KABIL is also in talks with Malawi Mining Investment Company for critical mineral projects in Malawi.

• KABIL is evaluating investment opportunities in Brazil, Canada, Russia, Indonesia, among others and looking at rare earths.

• The panel observed "limited progress" in securing overseas mineral assets and "prolonged timelines" in moving from negotiations to actual acquisition and production.

($1 = 95.6125 Indian rupees)

(Reporting by Rajesh Kr. Singh and Neha Arora; editing by Alexandra Hudson)

(([email protected]; X: neha_5;))

Aug 14 (Reuters) - India has lowered windfall taxes on exports of petrol, diesel and aviation turbine fuel with effect from Saturday, according to a government order.

The duty on diesel exports has been cut to 24 Indian rupees ($0.2515) per litre from 25.5 rupees, while petrol duty has been set at zero rupees per litre, down from 3.5 rupees, the government order showed. The tax on aviation turbine fuel has been set at 19.5 rupees per litre from 22 rupees earlier.

($1 = 95.4400 Indian rupees)

(Reporting by Nikunj Ohri and Kanjyik Ghosh; Editing by Mark Porter)

(([email protected]))

By Aditi Shah and Aditya Kalra

NEW DELHI, Aug 13 (Reuters) - Hours after India made public assurances last week that its ethanol-blended petrol was safe, the country's main auto lobby withdrew a complaint about fuel contamination it had sent to the government a week earlier. The group said some figures needed more checks.

But separate communications between industry executives, reviewed by Reuters, showed that in the preceding days, top automakers Maruti Suzuki MRTI.NS, Tata Motors TAMO.NS and Mahindra MAHM.NS discussed their concerns about contamination of petrol blended with 20% ethanol, called E20.

Their data compiled the most comprehensive fuel testing done by the industry since Prime Minister Narendra Modi's government started rolling out E20 nationwide from last year to help curb pollution and cut oil imports.

With no other petrol available since April 1, consumer concerns have grown about the impact on vehicle performance.

The carmakers' emails show for the first time how they are privately worried about contaminants in E20, like chloride and moisture, which they say are hurting vehicles, even as they publicly back the government's rollout of the fuel.

The Society of Indian Automobile Manufacturers (SIAM) withdrew its July 28 letter on fuel contamination after a government and public uproar over the warning, saying "some numbers" need "authentication".

The previously unreported industry data and emails reviewed by Reuters show "multiple" automakers had already conducted extensive tests by collecting over 250 fuel samples from pumps over a year from as many as 21 of India's 36 states and territories. They found high chloride contamination in many of the samples in 18 states, as well as high moisture content.

The executives' emails raised no concern about data authentication.

Asked for comment on the private emails, SIAM told Reuters the data was intended only for internal circulation, discussion and validation, and collected by "very few" automakers.

Maruti, Tata and Mahindra, who were part of the SIAM internal emails seen by Reuters, account for 67% of India's car market.

As "the testing basis and sample size were insufficient to support definitive conclusions, the communication was withdrawn" as it was sent inadvertently, SIAM said, adding it intends to undertake a proper scientific study.

The Ministry of Petroleum and Natural Gas did not respond to requests for comment. Its minister, Hardeep Singh Puri, said on Friday that two weeks prior to receiving the letter from SIAM, India's oil marketing companies had begun "rigorous testing" of fuel at retail outlets to check for contamination.

Only four cases of contamination were found, he said. State-run fuel retailers also said last week that extensive random and scientific tests showed "no cause for any alarm on account of fuel contamination".

Mahindra said conclusions drawn from its executive's emails "are completely baseless and incorrect", industry data is limited and preliminary, and it does not see issues with E20. Maruti and Tata did not respond to requests for comment.

AUTO INDUSTRY MET GOVERNMENT TO FLAG CHLORIDE CONCERNS

E20 has angered motorists, with hundreds alleging it has reduced mileage and increased wear and tear on their cars, and triggered at least one court challenge.

SIAM had earlier said high levels of chloride are corrosive for auto parts, while high moisture levels in fuel can immobilise a vehicle immediately after fuelling.

In the group emails exchanged among Maruti, Tata, Mahindra and SIAM, Maruti's senior executive Anoop Bhat raised concerns on the high chloride findings saying this had been privately discussed with the petroleum ministry on July 26.

The tabulated state-wide findings shared by the industry on group emails showed they recorded chloride levels of 6 to 570 parts per million (ppm) in Rajasthan state, 1.4 to 420 ppm in the capital New Delhi and 10 to 357 ppm in Maharashtra.

The Indian government says the permissible limit is 3 ppm.

The data tables also showed moisture levels reaching 13,000 ppm in Andhra Pradesh and 12,500 ppm in Uttar Pradesh, versus a permissible government benchmark of 3,000 ppm.

While the reason for contamination is not known, SIAM said in its now withdrawn letter it had seen an increase in chloride levels since the rollout of E20 and has requested the government to direct oil marketing companies to find the root cause.

For moisture, the SIAM letter noted, the cause could be inadequate "maintenance of the underground storage tanks and pipelines at retail outlets".

Maruti's Bhat wrote in his July 26 email that 1 ppm of chloride was the maximum that current fuel injectors, which transport fuel to the engine, "can tolerate".

"Lesser than 1 ppm in E20 is also in line with international standards. Same is in line with discussion held with" the petroleum ministry, Bhat wrote.

Mahindra's senior principal engineer of fluids technology, R. Ramaprabhu, said in emails that organic chloride is the contaminant responsible for the very rapid vehicle failures the industry is seeing and can spoil engines "within 200 km".

"Majority cases reported immediately after fuelling ... is due to organic chloride," he wrote, adding that Mahindra has "strong evidences" of fuel sample data from retail outlets.

Mahindra's Ramaprabhu and Maruti's Bhat did not respond to Reuters' queries.

(Reporting by Aditi Shah and Aditya Kalra in New Delhi; Editing by Sonali Paul)

(([email protected]; X: @aditishahsays))

NEW DELHI, Aug 10 (Reuters) - India's state fuel retailers' revenue loss on the sale of liquefied petroleum gas (LPG), mainly used as cooking fuel, has narrowed to 188 rupees ($1.97) per 14.2-kilogram cylinder in August, junior oil minister Suresh Gopi said on Monday.

• In July, the revenue loss for the sale of a cooking gas cylinder for households was 500 rupees, the minister told lawmakers in a written reply.

• Retailers Indian Oil Corp IOC.NS, Bharat Petroleum Corp BPCL.NS and Hindustan Petroleum Corp HPCL.NS have been selling a cooking gas cylinder for 942 rupees in Delhi since June 2026.

• The Indian government compensates fuel retailers for loss on sale of cooking gas to households at below market rates with a lag.

• The government paid a subsidy of 300 billion rupees for clearing some of the dues for 2025/26 and 2026/27, Gopi said.

• Despite payment of subsidy, the pending dues to be cleared for the state retailer for LPG are more than 590 billion rupees as of July 31, he said.

  
  

($1 = 95.2825 Indian rupees)

(Reporting by Nidhi Verma; Editing by Leroy Leo)

(([email protected]; X: @nidhi712;))

Aug 7 (Reuters) - India's state-run fuel retailers said on Friday that nationwide testing of E20 petrol found no evidence to support claims of high chloride contamination or moisture and that fuel quality remained within prescribed limits, according to a joint statement.

More than 100 petrol samples from refineries showed chloride levels at or below one part per million (ppm), while ethanol samples from 80 distilleries recorded chloride content below 3 ppm, HPCL HPCL.NS, BPCL BPCL.NS and Indian Oil IOC.NS said.

Here are more details:

• The clarification comes amid concerns about India's nationwide roll out of E20 petrol, which contains 20% ethanol, a plant-derived alcohol mixed into petrol to reduce dependence on imported crude oil.

• More than 80 E20 samples collected from depots and terminals nationwide also showed chloride levels below 3 ppm, the statement said.

• The oil marketing companies said inspections of underground storage tanks at about 90,000 fuel stations found no water ingress, and urged consumers to continue using E20 petrol with confidence.

• The transition has drawn criticism from some consumers, who say the higher ethanol blend affects fuel efficiency and vehicle performance, particularly in older vehicles not designed for the fuel type.

(Reporting by Urvi Dugar in Bengaluru; Editing by Tasim Zahid)

(([email protected]; +91 9558725583;))

NEW DELHI/SINGAPORE, Aug 5 (Reuters) - Indian refiners Mangalore Refinery and Petrochemicals MRPL.NS bought 1 million barrels of Oman crude via a tender, three trade sources said on Wednesday.

The oil was bought at a premium of about $3 a barrel to the dated Brent contract, the sources said. One of them added that the seller was Mitsui & Co Energy Trading Singapore.

Separately, state-run Indian Oil Corp IOC.NS, the country's biggest refiner by capacity, purchased four million barrels of West African crude, the sources said.

The company bought Angolan Nemba, Saxi Batuque and Clov as well as Congo's Djeno crude, all from Chevron, the people said.

The companies typically do not comment on commercial trades.

(Reporting by Nidhi Verma in New Delhi and Siyi Liu in Singapore
Editing by David Goodman)

(([email protected];))

NEW DELHI, Aug 1 (Reuters) - Indian Oil Corp IOC.NS, the country's top refiner, has sharply raised oil purchases from the spot markets to make up for the loss of Middle Eastern supplies, its head of finance Anuj Jain said at an analyst meeting on Saturday following the June quarter earnings.

• "Our spot volume jumped from 50% to almost 84%, and the situation is very very dynamic...we keep track of the development on a day-to-day basis and try to optimize our crude sourcing," Jain said.

• Indian refiners have switched to spot purchases due to supply disruption from the Strait of Hormuz and Red Sea, after the U.S.-Iran war began in late February.

• The company relies heavily on spot purchase of Russian oil for processing at its refineries.

• IOC has stepped up purchase of oil from West African and Latin American producers to make up for the supply disruption from the Middle East, he said.

• IOC, along with its subsidiary Chennai Petroleum Corp CHPC.NS, controls about a third of India's 5.2 million barrels per day refining capacity.

• IOC aims to process 1.7 million bpd oil at its directly owned refineries in 2027/28 as it hopes to expand capacity of some of the units by end of this year, Jain said.

  
  

(Reporting by Nidhi Verma
Editing by Shri Navaratnam)

(([email protected]; X: @nidhi712;))

July 31 (Reuters) - Indian Oil Corporation (IOC) IOC.NS, the country's top refiner, reported its first quarterly loss since September 2022, as elevated crude oil prices weighed on margins.

Here are details from the state-run company's earnings report:

• The company reported a standalone net loss of 26.61 billion rupees ($279 million) for the quarter ended June 30, against a profit of 56.89 billion rupees a year ago.

• Average Brent crude prices LCOc1 were about 45% higher in the quarter than a year earlier, driven by supply disruptions stemming from the Middle East conflict, raising refiners' raw material costs.

• Higher crude costs pushed fuel marketing margins into negative territory, as the cost of retailing fuels exceeded earnings from sales.

• Petrol and diesel marketing margins averaged negative 10.6 rupees per litre and 18.4 rupees per litre, respectively, during the quarter, according to Jefferies analysts.

• IOC's total expenses climbed 32% to 2.80 billion rupees, with a 77% rise in cost of raw materials consumed.

• Fuel demand weakened in India, the world's third-largest importer and consumer of oil, with consumption declining 4.6%, 6.5%, and 3.1% year-on-year in April, May, and June, respectively.

• The firm's revenue from operations rose about 26.2% to 2.76 trillion rupees, helped by a 36.22 billion rupee compensation from the government for losses in the liquefied petroleum gas segment.

• Earlier in the month, BPCL BPCL.NS and HPCL HPCL.NS also reported their first loss in 15 quarters due to elevated crude prices.

($1 = 95.3800 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru; Editing by Eileen Soreng)

(([email protected]; +91 8697274436;))

By Nidhi Verma

NEW DELHI, July 30 (Reuters) - Two tankers carrying Saudi crude for Indian refiners have exited the Red Sea through the Bab el-Mandeb Strait by sailing "dark" after Yemen's Iran-aligned Houthis announced a blockade on Saudi shipments, two sources with direct knowledge of the matter said.

The Suezmax tanker Amazon, chartered by Indian Oil Corp IOC.NS, loaded 1 million barrels of oil and Aframax Rodos lifted 700,000 barrels of crude for Mangalore Refinery and Petrochemicals Ltd MRPL.NS at Saudi Arabia's Yanbu port around July 20 and briefly turned north towards the Suez Canal.

However, the Amazon and Rodos then switched off their Automatic Identification System transponders around July 22, preventing public tracking of their moves, and headed south to exit the Red Sea through the Bab el-Mandeb Strait, the sources said.

The tankers are the first evidence of vessels carrying Saudi crude for India going dark by turning off their transponders, which the sources said is normal practice in war zone areas, since the blockade began.

"The owner had shut the transponders on the vessels for safety purposes, and the vessels are now heading to India," one of the sources told Reuters.

The Rodos is expected to arrive at India's Mangalore port on August 1, while the Amazon is scheduled to reach Chennai in early August, both sources said.

Both vessels are managed by Greece-based Dynacom Tankers. Dynacom had no immediate comment when contacted by Reuters.

India's foreign ministry, Indian Oil and MRPL did not respond to emails seeking comment.

The vessels switched off their transponders after two other Dynacom ships, Malta-flagged Panamax-sized tanker Kavomaleas and Liberian-flagged VLCC Acheloos, were hit by projectiles.

Indian refiners have switched to cargoes from the Middle East on a delivered basis since the Houthi attacks on several Saudi tankers. MRPL said in its latest tender it will only buy oil shipped on routes avoiding the Red Sea and Strait of Hormuz.

It was not immediately clear if the Indian government talked to the Houthis or Iranian authorities to gain safe passage for the vessels after refiners in India approached it for help.

(Reporting by Nidhi Verma; Additional reporting by Aftab Ahmed and Lefteris Papadimas; Editing by Florence Tan and Alexander Smith)

(([email protected]; X: @nidhi712;))

By Nidhi Verma

NEW DELHI, July 29 (Reuters) - India's top refiner, Indian Oil Corp (IOC) IOC.NS, is looking to acquire a 50% stake in very large gas carriers (VLGCs), according to a tender document, as it prepares to increase imports of liquefied petroleum gas (LPG) from the United States.

IOC would be the first Indian refiner seeking ownership of VLGCs. The company currently relies mainly on time-chartered LPG and crude tankers.

IOC did not immediately respond to an emailed request for comment.

Indian state fuel retailers are set to increase purchases of U.S. LPG, used mainly as cooking gas, from 2027.

U.S. LPG is typically more expensive for Indian buyers because of the longer voyage and higher freight costs, an Asian LPG trader said.

"The biggest challenge in buying U.S. LPG is not availability but freight rates," the trader said.

IOC is seeking VLGCs with a capacity of 80,000 to 93,500 cubic metres that are no more than 12 years old, according to the tender document, which was issued to a limited number of companies.

Bidders may offer up to two VLGCs, the document showed, although IOC did not specify how many vessels it intends to acquire.

IndianOil LNG, an IOC joint venture, reserves the right to acquire one or more vessels under the tender, the document said.

IOC will hold a pre-bid meeting on August 5, while commercial and technical bids are due by September 7.

The vessels will be reflagged to India after the acquisition, the document added.

(Reporting by Nidhi Verma; Editing by Kevin Buckland)

(([email protected]; X: @nidhi712;))

July 28 (Reuters) - Indian Oil Corporation Ltd IOC.NS:

• INVESTS 433.59 BILLION RUPEES IN PARADIP REFINERY, POLYPROPYLENE, AND MEG PLANTS

• INVESTING 138.05 BILLION RUPEES IN PX-PTA PROJECT AT PARADIP

• PLANS 43.82 BILLION RUPEES INVESTMENT IN BHADRAK TEXTILE PARK WITH MCPI

• PLANS 10.64 BILLION RUPEES INVESTMENT IN SUSTAINABLE AVIATION FUEL PROJECT WITH M11 ENERGY TRANSITION

Source text: ID:nBSE8twn7g

Further company coverage: IOC.NS

(([email protected];))

By Nidhi Verma

NEW DELHI, July 21 (Reuters) - Indian Oil Corp IOC.NS has cancelled the lifting of Iraqi oil from Basrah Oil Terminal due to increased risk and attacks on some vessels transiting through the Strait of Hormuz, three sources familiar with the matter said.

• State-run IOC was preparing to lift 2 million barrels of Iraqi oil in the very large crude carrier Lila Jamnagar around July ​23.

• Another state refiner, Mangalore Refinery and Petrochemicals Ltd MRPL.NS, also cancelled plans to lift oil from Iraq in the Indian-flagged Aframax tanker Desh Gaurav, they said.

• The two Indian refiners did not immediately respond to a Reuters request for comment.

• India has advised shipowners, ship managers and recruitment companies not to deploy the country's seafarers on vessels undertaking trips through the Strait of Hormuz following the resumption of fighting in the region.

• The shipping regulator has also directed masters of vessels to ensure that they are sufficiently vigilant about the security situation in the Persian Gulf, the Strait of Hormuz and adjoining waters, and called for continuous monitoring of navigational warnings.

• The Strait of Hormuz between Iran and Oman was the main transit route before the conflict for around a fifth of global energy supplies.

• Tensions have escalated since a fragile truce between Washington and Tehran collapsed in early July, reviving heavy exchanges of strikes and further disrupting shipping through the waterway.

(Reporting by Nidhi Verma; Editing by Joe Bavier)

(([email protected]; X: @nidhi712;))

By Krishna N. Das and Nidhi Verma

NEW DELHI, July 15 (Reuters) - Top Russian energy companies have approached Indian refiners for more gasoline after Ukrainian strikes knocked out a significant portion of Russia's refining capacity, two sources familiar with the matter told Reuters on Wednesday.

India is the biggest buyer of Russian seaborne crude oil, making Moscow's bid to secure Indian gasoline an unusual reversal in the countries' energy trade relationship, highlighting the extent of the disruption caused by the Ukrainian attacks. Moscow is witnessing its worst gasoline crisis.

At least one cargo of Indian gasoline has already sailed to Russia and more are expected, with nearly 40% of Russia's refining capacity unlikely to return for at least two months if there are no further attacks, one of the sources with knowledge of the matter said.

Rosneft ROSN.MM, Gazprom Neft and Lukoil LKOH.MM are among the companies that have contacted Indian counterparts, including private and state-run refiners, the source said, adding that any supplies would be routed through traders if deals are agreed.

Sources at three Indian state refiners said Russian companies had approached them for more gasoline but that they have no surplus volumes to export. They and the other two sources spoke on the condition of anonymity to discuss sensitive matters.

Major Indian state refiners including Indian Oil Corp IOC.NS, Bharat Petroleum Corp BPCL.NS and Hindustan Petroleum CorpHPCL.NS, the three Russian oil companies, and Russia's energy ministry did not respond to Reuters emails seeking comment.

Indian Oil Minister Hardeep Singh Puri said earlier this month that Indian companies were not selling fuel to Russia but it was possible that Russia purchased Indian-origin fuel from traders.

SHIP-TO-SHIP TRANSFERS

One of the sources familiar with the matter said any further supplies from India could reach Russia through ship-to-ship transfers. Russia would seek supplies of diesel if Ukrainian attacks knocked out further refining capacity, though there were enough supplies of the fuel for now, the source added.

Reuters reported early this month that traders have sold gasoline produced by Indian refiner Nayara Energy, partly owned by Rosneft, to Russia.

Tanker Agni loaded with 42,000 metric tons of gasoline from Nayara's Vadinar port between June 18 and 20 and did a ship-to-ship transfer of the cargo onto the vessel Garnet at Damietta Light near Egypt, between July 6 and 7, Kpler said in a note citing satellite imagery. Garnet is expected to reach Vitino in Russia around July 26, the ship tracking agency said.

Shipping sources said another tanker, Varg, loaded with gasoline from Nayara's Vadinar port, was bound for Suez, where the cargo is expected to be transferred to another vessel off Egypt for onward shipment to Russia.

Nayara told Reuters it "has neither sold nor has any plans to sell fuel to Russian companies".

"Nayara Energy remains committed to serving the Indian market and meeting the demand for fuels across the length and breadth of India," it said in response to questions from Reuters.

"As the country’s largest private sector fuel retailer, our only priority is to ensure optimum supplies to over 7,000 stations and other channels including bulk customers."

(Reporting by Krishna N. Das and Nidhi Verma in New Delhi; Additional reporting by Vladimir Soldatkin; Editing by Emelia Sithole-Matarise)

(([email protected]; https://x.com/krishnadasassam;))

LONDON, July 13 (Reuters) - Nigeria's Dangote oil refinery issued a spot tender for crude oil on Monday, a trade source said, while the wider market remained quiet.

• The refinery was inviting offers for crude oil to be loaded between August 1 and 30, a copy of the tender seen by Reuters showed.

• A lack of buying demand, particularly from China, has been weighing on the West African crude oil market and some grades like Middle Eastern and Latin American crudes have become cheaper for market participants.

• In the wider market, Nigeria's crude oil production rose to its highest level in more than six years in June, as stable operations and improved pipeline reliability boosted output, according to data released by the regulator on Sunday.

(Reporting by Seher Dareen; Editing by Shilpi Majumdar)

(([email protected]))

LONDON, July 10 (Reuters) - Nigeria's national oil company NNPC issued a tender calling for bids on one of its key crude grade, while the rest of the market remained subdued.

• NTL, NNPC's trading arm, issued a tender for bids on a cargo of its Bonny Light grade to be loaded in August 20-21.

• Differentials in the wider market have been pressured by weak appetite from China and both U.S. and Latin American grades coming in cheaper to Europe, traders have said this week.

• Additionally, the partial increase in flows from the Middle East was alleviating concerns of a shortage.

(Reporting by Seher Dareen, Editing by Louise Heavens)

(([email protected]))

LONDON, July 9 (Reuters) - The West African crude market was quiet on Thursday as demand waned and crude grades competed for market share against each other.

• Nigeria's Bonga for August 3 to August 4 loading was bought at dated flat in the Platts window earlier this week, traders said, while TotalEnergies offered Angolan Djeno at minus $14 to dated Brent.

• Differentials have been pressured by weak appetite from China and both U.S. and Latin American grades coming in cheaper to Europe, traders have said this week.

• Additionally, the partial increase in flows from the Middle East was alleviating concerns of a shortage.

• In the wider market, ExxonMobil and its partners will invest $1 billion in the Usan Infill Project offshore Nigeria, a development expected to add 40,000 barrels per day of oil production, Nigeria's upstream regulator said on Wednesday.

(Reporting by Seher Dareen. Editing by Mark Potter)

(([email protected]))

LONDON, July 8 (Reuters) - ExxonMobil sold Bonga to Repsol at dated Brent flat in the previous session, while West African crude differentials remained under pressure as demand waned and crude grades competed for market share against each other.

• ExxonMobil withdrew its offer of plus $1 against dated Brent of Nigeria's Bonga for Aug 3 to Aug 4 loading in the Platts window in the previous session, two traders said.

• After the window closed, Repsol bought the cargo at dated flat, one of the traders said.

• Earlier this week, TotalEnergies offered Angolan Djeno at minus $14 to dated Brent, another trader said.

• Differentials have been weighed on by a weak appetite from China and both U.S. and Latin American grades coming in cheaper to Europe, traders have said this week. Additionally, the partial increase in flows from the Middle East was alleviating concerns of a shortage.

(Reporting by Seher Dareen; Editing by Toby Chopra)

(([email protected]))

By Nidhi Verma

NEW DELHI, July 7 (Reuters) - Indian Oil Corp IOC.NS, the country's top refiner, has chartered a very large crude carrier (VLCC) to load Iraqi oil from Basrah Oil Terminal later this month after a partial reopening of the Strait of Hormuz, three shipping sources said.

• State-owned IOC will be lifting 2 million barrels of Iraqi oil in the VLCC Lila Jamnagar around July 23, they said.

• The crude will be delivered at eastern India ports of Paradip and Chennai, they said.

• Indian state refiners, which mostly lift Iraqi oil on a free on board basis, had almost halted purchase of Iraqi oil due to the effective closure of the Strait of Hormuz after U.S.-Israeli attacks on Iran.

• IOC did not immediately respond to an email seeking comment sent outside working hours.

  
  

(Reporting by Nidhi Verma; Editing by Joe Bavier)

(([email protected]; X: @nidhi712;))

LONDON, July 6 (Reuters) - West African crude differentials remained under pressure on Monday, moving lower on a larger supply of crude.

• West African excess barrels have to compete with Middle Eastern grades coming to Europe, more U.S. WTI flows to Europe and volumes from strategic reserves, traders have told Reuters.

• Additionally, Indian Oil Corporation issued a tender last week.

• In the wider market, Nigeria pumped around 1.65 million barrels per day in June, according to a Reuters survey on output by the Organization of the Petroleum Exporting Countries. It had a quota of 1.50 million bpd.

(Reporting by Seher Dareen)

(([email protected]))

LONDON, July 3 (Reuters) - West African crude differentials were under pressure from higher supply of crude, traders said on Friday, while an IOC buying tender was in focus.

• Indian Oil Corporation issued a tender whose results would be out soon, a trader said.

• "It feels like the levels are coming off ... freight (is also) too expensive," he added.

• Additionally, higher U.S. exports were also weighing on the market, with a lot coming into Europe, he said.

• West African excess barrels have to compete with Middle Eastern grades coming to Europe, more U.S. WTI flows to Europe, volumes from strategic reserves and Caspian CPC Blend, traders and analysts said this week.

(Reporting by Seher Dareen, Editing by Louise Heavens)

(([email protected]))