India receives its first-ever shipment of US crude oil at Paradip port

Indian Oil Corporation Limited (IOCL) has received its first shipment of 1.6 million barrels of US crude at Paradip port, Odisha. IOCL had placed a cumulative order to source 3.9 million barrels from the US. It intends to process the crude at its refineries located at Paradip, Haldia, Barauni and Bongaigaon. MT New Prosperity, a very large crude carrier of 2 million barrel capacity, left the US Gulf Coast on August 19, 2017 and arrived at Paradip port on October 2, 2017 with the shipment. Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited have also placed orders from the US for about 2.95 million barrels and 1 million barrels of crude oil, respectively, for their Kochi and Vizag refineries.