MRPL seeks crude in unusual tender amid Iran row
India's Mangalore Refinery and Petrochemicals on Wednesday issued its second tender this week to buy high-sulphur crude amid an ongoing oil payment dispute between India and Iran.
January 05, 2011 / 16:20 IST
India's Mangalore Refinery and Petrochemicals on Wednesday issued its second tender this week to buy high-sulphur crude amid an ongoing oil payment dispute between India and Iran.
The refiner is seeking 650,000 barrels of sour crude for loading on February 1-28, according to tender documents. The tender will close on January 10, with bids remaining valid until January 12.MRPL, India's largest buyer of Iranian crude, rarely buys sour crude via spot tenders.On Tuesday, the company issued a tender to import high-sulphur crude for lifting in March. MRPL also resumed sweet crude purchases via spot tenders this week, seeking a March cargo after a 6-month hiatus. The company imports about 150,000 barrels per day of sour grades from Iran.MRPL, a subsidiary of state-run explorer Oil and Natural Gas Corp, runs a 236,400-bpd coastal refinery in the southern Indian Karnataka state. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
