Reliance Industries Ltd (RIL) has purchased one million barrels of crude oil from Kuwait Petroleum Corp (KPC) through a tender, according to information shared by four market sources. The offer came after KPC’s Al-Zour refinery was forced to halt processing due to an unexpected shutdown caused by a recent fire.
Breakdown of the Shipment
Under the agreement, Reliance will receive two separate consignments of Kuwaiti crude:
- 500,000 barrels of Kuwait Heavy Crude, scheduled for loading between December 6–7
- 500,000 barrels of Eocene Crude, slated for loading between December 8–9
Pricing details for both cargoes have not yet been made public.
Strategic Pivot Away From Russian Oil
The procurement aligns with Reliance’s ongoing shift in sourcing strategy. The company has suspended purchases of Russian crude following US sanctions on major Russian suppliers, including Rosneft and Lukoil. Since halting Russian imports in October, Reliance has stepped up spot buying from producers in the Middle East and the Americas. As earlier reported by Reuters, the company has already sourced over 12 million barrels from these regions to fill the supply gap.
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