Asia Kerosene-India IOC buys 80KT for Sept-Oct

SINGAPORE, Sep 14 (Reuters) Indian Oil Corp. (IOC) bought 40,000 tonnes of kerosene each month for September and October delivery, lifting its total purchase for September to 150,000 tonnes, the highest volume this year, traders said on Thursday.

The state-run company bought 40,000 tonnes to be delivered in Sept. 26-30 from Vitol at .43 a barrel premium to its price formula.

It also bought 40,000 tonnes for Oct. 8-12 delivery from Shell at .40 a barrel premium to the price formula.

The refiner is buying overseas kerosene as its refineries are increasing the production of gas oil, both of which come from the same middle distillate pool, one trader said.

REUTERS SRS BD1658