India shuns Gulf producers, diverts refiners’ oil to SPR – ZAWYA

India shuns Gulf producers, diverts refiners’ oil to SPR – ZAWYA

India's state refiners have resorted to exporting refined products to avoid full closure of their plants after local fuel demand collapsed. Hindustan Petroleum will supply 400,000 barrels of Iraqi oil to fill the nearly 7.5-million-barrels Vizag storage in the southern state of Andhra Pradesh, the sources said.. U.A.E's Abu Dhabi National Oil Co (ADNOC) has leased half of the nearly 11-million-barrel Mangalore storage, while the ISPRL has bought 4 million barrels of Saudi oil for 18.5-million-barrel Padur storage.. Indian Oil Corp will divert 2 million barrels of Saudi oil and 5.7 million barrels of ADNOC oil, they said.. Pending final agreements with ADNOC and Saudi Aramco, India decided to help state refiners, one of the sources said..