Cairn India Ltd to Sell 70,000 Barrels of Oil to RIL

Mar 14, 2011, 11:06 IST

Cairn India Ltd that recently reached 1 lakh barrels of oil per day (bopd) production from its Rajasthan fields would supply 70000 barrels to Reliance Industries Ltd.  RIL’s purchase of the Rajasthan crude is for both its refineries at Jamnagar. Crude oil from the Barmer block is priced at 10-15 per cent discount of Brent. Reliance's two refineries at Jamnagar together have the ability to process 1.25 million barrels a day of crude. RIL’s oil is sourced from Latin America, North Africa and West Asia. The buyers of Cairn crude are Essar (23,000 barrels) and Indian Oil Corporation (7,000 barrels).

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