Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Dwight E. Karlsen who wrote (39320)	3/8/1999 11:22:00 PM
From: JungleInvestor	Read Replies (2) of 95453

Interesting news item from Greywolf on India's need for the black gold. Demand is growing as supply shrinks. "Greywolf note: India is going to become more and more important as time passes. This is interesting and can help the shipping rates.. Every little bit.. TOKYO, March 8 State-owned Indian Oil Corp (IOC) has issued its third tender to buy April-loading crude oil, traders said on Monday. They said it was unusual for IOC to issue three tenders for one month. In the tender, IOC seeks a nominal one million barrels of crude from listed origins of the Middle East, Egypt and Norwegian Gulfaks. Traders said there would be hardly any availability for April crudes IOC is seeking. The tender closes on Thursday and offers will be valid until Friday, traders said. In its two previous April-loading crude tenders, IOC is believed to have bought a total of seven Dubai cargoes, one very large crude carrier (VLCC) of Egyptian Gulf of Suez crude, and one or two VLCCs of West African crudes"

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