Reliance Seeks Premium Bids for India's Offshore Crude

Reliance Industries Ltd, alongside partner BP, is calling for bids from domestic refiners for the sale of 17,600 barrels of crude oil per month from the KG-D6 block. The company seeks a premium of at least USD 3.5 per barrel over the Bonny Light benchmark, starting April 2025.

Reliance Industries Ltd, partnering with BP, has issued a tender seeking a premium of at least USD 3.5 per barrel over the Bonny Light benchmark for crude oil from the eastern offshore KG-D6 block.

The company is seeking bids from domestic refiners for the sale of 17,600 barrels of crude oil monthly between April 2025 and February 2026. A quality premium of USD 1.5 per barrel is already considered in the pricing.

The crude will be delivered to buyers in Gadimoga, East Godavari district, Andhra Pradesh, with taxes and duties to be borne by the buyer. Bids are required by January 24, 2025, and the sale period is extendable under the same terms.

(With inputs from agencies.)