NEW DELHI/SINGAPORE, – India’s Reliance Industries, operator of the world’s biggest refining complex, has purchased 5 million barrels of Iranian crude, days after the U.S. temporarily removed sanctions on the oil, three sources familiar with the matter said on Tuesday.
The Indian refiner bought the oil from the National Iranian Oil Co., two of the sources said. One of them said the crude was priced at a premium of about $7 a barrel to ICE Brent futures. It was not immediately clear when the oil would be delivered.