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HMEL Buys May Basra at Steady Differential

Source: Reuters 3/20/2013, Location: Middle East

India's Hindustan Mittal Energy Ltd (HMEL) has bought 2 million barrels of May loading Basra Light at premiums similar to a month ago, industry sources said.

It bought the cargo at 20-30 cents per barrel premium to the official selling price (OSP). The seller was probably Emirates National Oil Co (ENOC), the sources said. The deal could not be independently verified.

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