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India buys one million barrels of crude from Ghana – Report

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The Indian Oil Corporation (IOC) is reported to have bought one million barrels of crude oil produced from Ghana’s Jubilee fields.

The crude is said to have been bought through a tender from oil marketer the Vitol Group.

The shipment of the crude cargo from the Jubilee field is due for next November, Bloomberg reported today October 9, 2012 citing two unidentified traders who participated in the deal.

Ghana began commercial oil production in December 2010 and in the first-half of 2012, the Jubilee field has produced a total of 11.7 million barrels of oil with an an average 62,985.44 barrels of oil per day (bopd) gross.

By Ekow Quandzie

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