The tender is seeking cargoes delivered 1-10 April to the Paradip terminal on the eastern coast of India and includes various grades from North America, Latin America, west Africa and the Mideast Gulf. US crude would be expected to load 17-23 February.
The only other time IOC was seen including DSW as an eligible cargo option was in June, when the refiner issued a term tender to buy up to 12mn bl of US crude in each the fourth quarter of 2020 and the first quarter of 2021.
DSW is similar in quality to West Texas Intermediate (WTI) from the Permian basin but is delivered to the US Gulf coast by way of Cushing, Oklahoma, where it can be commingled or blended with other types of crude, including heavy sours from Canada.
The tender also shortlists West Texas Light (WTL), which was added to IOC’s list of eligible grades for the first time in December. WTL is a relatively new stream of crude from the Permian basin that was previously blended with other crudes of varying quality to contribute to WTI production before being segregated into its own stream in late 2018.
Other US grades eligible in IOC’s tender today include WTI, 45°API Eagle Ford, Bakken, Light Louisiana Sweet (LLS), Heavy Louisiana Sweet (HLS), Eugene Island, Mars, Poseidon, Southern Green Canyon (SGC), Thunder Horse and Alaskan North Slope (ANS).
Companies can submit offers on an fob or delivered basis relative to Dated Brent until 15 January.
Heavy sour Western Canadian Select (WCS), which is often re-exported from the US Gulf coast, was also listed as an eligible grade to offer as a co-loaded cargo with Thunder Horse, Mars, SGC or WTI.
IOC was previously heard purchasing a cargo of WCS in a tender it closed last week seeking deliveries to Paradip in late March and early April, though further details remain murky.
India took over as the top destination for US crude exports in November at roughly 430,000 b/d, with nearly 20pc of that volume comprising crudes like WCS with a gravity under 25°API, according to the latest available monthly statistics published last week by the US Census Bureau.
