SINGAPORE/NEW DELHI : India's Reliance Industries Ltd is seeking to sell some April-loading crude cargoes in a rare move as it plans to cut crude processing after the coronavirus pandemic hit global fuel demand, four sources said on Friday.
The move comes as refiners across the world are considering deeper run cuts at their plants on mounting losses as measures taken by governments to prevent coronavirus from spreading have slashed fuel consumption.
Reliance, controlled by billionaire Mukesh Ambani, has offered various grades of Middle East crude for sale in Asia's spot market, including grades such as Abu Dhabi's Murban crude and Qatar's al-Shaheen crude, the sources said. "Everything is possible if you are interested," another source