Indian Refinery Buys Brazilian Tupi Crude

Nidhi Verma and Florence Tan
Monday, March 22, 2021

India's Mangalore Refinery and Petrochemicals Ltd has bought its first-ever cargo of Brazilian Tupi crude oil in a tender, two industry sources said on Monday.

The 1-million-barrel cargo was sold by Royal Dutch Shell for May delivery, he added.

The price was not immediately known.

The purchase comes after Indian state refiners had planned to reduce Saudi crude imports by about a quarter in May in an escalating stand-off with Riyadh following OPEC's decision to ignore calls from New Delhi to help the global economy with higher supply.

MRPL had been seeking sour crude in the tender, but had been offered sweet crude at more competitive prices, the sources said.

Brazilian Tupi crude is a popular grade with Chinese independent refiners but their crude purchases have been slow over the past weeks, partly because of an increase in cheap Iranian oil inflows.

(Reporting by Nidhi Verma and Florence Tan, editing by Louise Heavens)


Categories: Energy Industry News Activity Production South America Asia Refinery

Related Stories

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

ABL Secures Rig Moving Assignment with India's ONGC

Eni-Petronas Gas Joint Venture Up for Launch in 2026

Vietsovpetro Brings BK-24 Oil Platform Online Two Months Early

Ventura Offshore’s Semi-Sub Rig to Keep Drilling for Eni in Asia

CNOOC Brings Online Another Oil and Gas Project in South China Sea

Keppel, Seatrium in $53M Arbitration Case Over Brazil Corruption Scheme

CNOOC Brings New Offshore Gas Field On Stream

China Starts Production at Major Oil Field in Bohai Sea

Current News

Eneos Warns on Skyrocketing Costs fo Offshore Wind

Mooreast to Assess Feasibility of Floating Renewables Push in Timor-Leste

Malaysia Issues First Offshore CCS Permit to Petronas Subsidiary

Sponsored: Record Deals and Record Attendance Underscore ADIPEC’s Global Impact

Sponsored: Energy and Finance Chiefs Call for Sound Policy, Stable Frameworks at ADIPEC

Sponsored: Energy Sector Urged to Scale AI Adoption at ADIPEC

Sponsored: Policy, AI, and Capital Take Center Stage at ADIPEC 2025

Major Oil and Gas Projects Drive Strong OSV Demand in the Middle East

ABL to Support Platform Installations, Rig Moves for Chevron in Gulf of Thailand

PTTEP Orders OneSubsea Systems for Two Deepwater Projects off Malaysia

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com