Indian Refiner Reliance Offers Rare Sale of Middle East Crude
India’s Reliance Industries, the top private refiner in the country, is looking to sell some UAE and Iraqi crude in a rare spot market offer, trade sources told Bloomberg on Thursday. Reliance has been a major buyer of crude from the Middle East and Russia in recent years. After the U.S. sanctions on Russia’s top oil firms Rosneft and Lukoil last month, the Indian refiner of billionaire Mukesh Ambani snapped up millions of barrels of crude from the Middle East as it said it would comply with the Trump Administration’s sanctions.…