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

Yinson Production Concludes Minority Stake Sale in FPSO Anna Nery

Sunda Energy Pushes Back Chuditch-2 Appraisal Well Drilling Date

ABS Takes Charge of Digital Twin Project for Petrobras’ FPSOs

East Timor Eyes Chinese Partners for Stalled Greater Sunrise Gas Development

MCDermott Gets Pipelines and Cables Job at Qatar's Giant Gas Field

Nong Yao C Development Bolsters Valeura’s Production Rates Off Thailand

Santos Pens Mid-Term LNG Supply Deal

Equinor Picks SHI as Preferred Supplier for Korean 750 MW Floating Wind Project

FPSO Bacalhau Becomes World’s First Newbuild with DNV Emissions Abatement Notation

FPSO Newbuild for Petrobras’ Búzios Field Taking Shape in China

Current News

Valeura Energy Consolidates Thai Oil and Gas Assets

TotalEnergies Inks 15-Year LNG Supply Deal with China’s Sinopec

Shelf Drilling Secures $200M Contract Extensions with Chevron for Thailand Ops

Floating Wind and the Taming of Subsea Spaghetti

Impending Shortage of Jackups within Ageing Asia Pacific Fleet

Equinor Tries Again for a Japan Offshore Wind Lease

Yinson Production Concludes Minority Stake Sale in FPSO Anna Nery

Sunda Energy Pushes Back Chuditch-2 Appraisal Well Drilling Date

CNOOC Starts Production at Another Oil Field in South China Sea

ABS Takes Charge of Digital Twin Project for Petrobras’ FPSOs

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