India ups Iraq, Saudi imports in Jan.

摘要

Imports of Brent-linked Iraq and Saudi crude by Indian refiners increased last month, pushing out Latin American barrels, after Brent fell to a discount to Dubai crude. Saudi Aramco was the number one crude supplier to India in Jan. exporting 940K b/d, up 29% from year-ago levels. Imports from Iraq averaged 930K b/d, up 52% from Jan. 2015 levels., as the country was offering buyers discounts of over $l/bbl to compensate for quality changes to Iraqi crude. Indian Oil Corp. (IOC) recently signed a term contract to import Basra Heavy crude from Iraq, raising its total imports of Iraqi crude to approximately 300K b/d. The head of finance for IOC A.K. Sharma remarked, "Basra Heavy is better priced compared to any other heavy crude. Even Basra Light is better priced compared to other heavy crudes."