Saudi Aramco will provide India’s Reliance Industries with agreed volumes and grades of crude oil in October 2019, according to a spokesperson at the Indian company, Reuters reported.
“Aramco (has) confirmed and reassured that supplies for October will be maintained both in terms of quantity and mix of grades as per our requirement,” said the spokesperson.
The drone attacks on Aramco’s oil installations on September 14, 2019 knocked down the company’s production of light crude about 5.7 million barrels per day (b/d), forcing it to supply alternative higher grades instead of light oil to refineries.
“In the immediate aftermath of the incident, Aramco maintained supply with alternate grades of crude oil. The alternate grades being heavier suited Reliance’s refining needs,” the spokesperson added.
Aramco is considered a major supplier of crude oil for India’s Reliance for more than 20 years.
It is worth mentioning that Reliance plans to sell a fifth of its petrochemical and refining business to Aramco in a multibillion-dollar deal.