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UPDATE 1-HPCL buys 2 mln barrels of Nigeria's Qua Iboe oil

Source : REUTERS
Last Updated: Wed, May 08, 2013 15:50 hrs

GENEVA/NEW DELHI, May 8 (Reuters) - India's state-run Hindustan Petroleum Corp Ltd (HPCL) has bought 2 million barrels of Nigerian Qua Iboe crude oil via tender from BP, trade sources said on Wednesday.

Two cargoes of 950,000 barrels of the top Nigerian grade are due to load in July, although the exact loading dates were not immediately available.

One trade source said the tender was awarded at around dated Brent plus $3.50 a barrel on a free on board basis.

Refiners Indian Oil Corp (IOC) and Bharat Petroleum Corp also have outstanding tenders to purchase light, sweet crude oil this week.

The results are expected later this week.

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