BPCL buys Nigerian crude from Morgan Stanley

India's Bharat Petroleum Corp (BPCL) has bought 1 million barrels of Nigerian Qua Iboe crude oil from Morgan Stanley in a tender, a trading source said on Tuesday.

It was the refiner's first purchase of crude from Morgan Stanley, the source said. BPCL had issued a tender to buy 1 million barrels of February-loading sweet crude. Last month, the refiner bought 1 million barrels of Nigerian Agbami crude for February loading from Glencore at 77 cents a barrel above dated Brent. BPCL operates a 240,000-bpd refinery in Mumbai as well as a 150,000-bpd refinery in the southern Indian state of Kerala, run by subsidiary Kochi Refineries. It also owns a majority stake in a 60,000 bpd refinery in northeast India.