India's largest refiner Indian Oil Corp (IOC) bought 1.0 mln barrels of Iraqi crude for October loading via a tender from Iraq's state marketer SOMO at FOB, about $23-28 per barrel below the Dubai benchmark, two trade sources said. IOC is also seeking to buy up to 2.0 mln barrels of Basrah Medium and Basrah Heavy for Oct. 21-31 loading, priced against the October Dubai benchmark; that tender closes late on Friday, the sources added.

2026-09-25

India's largest refiner Indian Oil Corp (IOC) bought 1.0 mln barrels of Iraqi crude for October loading via a tender from Iraq's state marketer SOMO at FOB, about $23-28 per barrel below the Dubai benchmark, two trade sources said. IOC is also seeking to buy up to 2.0 mln barrels of Basrah Medium and Basrah Heavy for Oct. 21-31 loading, priced against the October Dubai benchmark; that tender closes late on Friday, the sources added.