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Business Companies 03 Oct 2017 Ambani's RIL makes first purchase of US crude oil

Business, Companies

Ambani's RIL makes first purchase of US crude oil

REUTERS

Published : Oct 3, 2017, 1:30 pm IST

Updated : Oct 3, 2017, 1:30 pm IST

Reliance bought 1 mn barrels each of West Texas Intermediate or WTI Midland and Eagle Ford crude.

New Delhi/Singapore: Reliance Industries Ltd, owner of the world’s biggest refining complex, has bought its first ever crude oil cargoes from the United States, drawn by the oil’s economics after the price spread between US crude futures and Brent futures widened, three trade sources said on Tuesday.

Reliance bought 1 million barrels each of West Texas Intermediate (WTI) Midland and Eagle Ford crude which are expected to arrive in November, they said.

Tags: reliance industries, us crude oil, ril, mukesh ambani, brent crude

Location: India, Delhi, New Delhi

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