Indian firm buys Nigerian, DRC crude oil

26 November 2011, Sweetcrude, Abuja – India’s Mangalore Refinery and Petrochemicals (MRPL) has bought 1.3 million barrels of West African crude oil for loading in January and February via tender, Reuters has quoted trade sources as saying.

Reuters said MRPL bought 650,000 barrels of Nigerian Escravos crude oil for January lifting from Chevron at a premium of about $3.00 over dated Brent on an fob basis.

The Indian refiner also bought 650,000 barrels of Coco, a crude oil produced in the Democratic Republic of Congo, from Shell for lifting in February at a premium of about $5.00 over dated Brent on a cost plus freight basis.

MRPL operates a 236,400-barrel-per-day (bpd) coastal refinery in southern India

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