Reliance sells 1st crude cargo on Platts Dubai: Traders

Reliance Industries on Monday sold its first cargo during an Asia crude price assessment process, traders said.

The Indian refiner will deliver 500,000 barrels of Upper Zakum crude to Chinaoil after completing the sale of 20 Dubai lots during the Platts Market on Close (MoC) process, they said.

Reliance made its first appearance on the MoC this month, selling Dubai partials alongside Unipec, the trading arm of Asia’s largest refiner Sinopec, and Royal Dutch Shell.