Indian Refiners Seek 6 Million Barrels of Spot Crude
Indian state-controlled oil refiners continue to search the market for spot crude supply as term deliveries are constrained by the ongoing crisis in the Middle East and its key oil chokepoint, the Strait of Hormuz. Mangalore Refinery and Petrochemicals Limited (MRPL) and Hindustan Petroleum Corporation Limited (HPCL) are looking to buy a combined 6 million barrels of crude oil via spot tenders,…
Indian state-controlled oil refiners are seeking spot crude supplies due to constrained term deliveries caused by the crisis in the Middle East. Mangalore Refinery and Petrochemicals Limited (MRPL) and Hindustan Petroleum Corporation Limited (HPCL) are looking to buy a combined 6 million barrels of crude oil via spot tenders.
HPCL is seeking up to 4 million barrels of crude for delivery in September and October, while MRPL is seeking up to 2 million barrels for delivery on October 10-20, according to Hindu BusinessLine.
MRPL has asked its suppliers to avoid using the Red Sea and the Strait of Hormuz, amid continued hostilities in West Asia, which has kept shipping traffic through the Strait of Hormuz low.
Brief written by urgent.news from OilPrice, Hindu BusinessLine — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- HPCL, MRPL seek up to six million barrels crude, documents show thehindubusinessline.com
