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First US crude oil cargo of 1.6 million barrels bought by Indian Oil Corporation from the US was received at Paradip Port

Paradip:2/10/17: In yet another success to Odisha, the first US crude oil cargo of 1.6 million barrels bought by Indian Oil Corporation from the US was received at Paradip Port today.

A sample of the crude was symbolically presented to Sunjay Sudhir, Joint Secretary (International Cooperation) in the Ministry of Petroleum & Natural Gas, by Anish Aggarwal, Director (Pipelines), Indian Oil. Munu Mahawar, Joint Secretary, Ministry of External Affairs, Govt. of India; Katherine B Hadda, US Consul General in Hyderabad.

Senior Officials from Ministry of External Affairs and Indian Oil were also present at the ceremony.

Calling it as a new chapter in the history of Indo-US trade, particularly in the oil and gas sector, Sudhir said that the inclusion of the US as a source for crude oil imports by India’s largest refiner will go a long way in mitigating the risks arising out of geopolitical disruptions. He hoped that the new arrangement would also usher in price stability and energy security for India, which is witnessing robust growth in demand for petroleum products.

MT New Prosperity, a Very Large Crude Carrier (VLCC), of capacity 2 million barrels of crude, left US Gulf Coast on 19th August and arrived at Paradip port today.

Indian Oil will process the crude at its East-Coast based refineries, located at Paradip, Haldia, Barauni and Bongaigaon.

Indian Oil which became the first Indian public sector refiner from India to source US crude has placed a cumulative order 3.9 million barrel from the US. Bharat Petroleum and Hindustan Petroleum, India’s two other public sector refiners have also placed orders for about 2.95 million barrels and 1 million barrels respectively for their Kochi and Vizag refineries from the US. The total volume of the crude presently contracted by Indian public sector refineries is, therefore, 7.85 million barrels. The three refiners are sourcing sweet, sour and heavy crudes for their refineries which are equipped to handle the complex mix of crude oils.

 

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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