Indian refiners have secured a combined 5 million barrels of crude oil through separate purchase deals, according to trade sources.
Three trade sources said on Wednesday that Mangalore Refinery and Petrochemicals Limited (MRPL) bought 1 million barrels of Oman crude through a tender.
The crude was purchased at a premium of about $3 per barrel above the dated Brent contract, the sources said.
One of the sources added that the cargo was sold by Mitsui & Co Energy Trading Singapore.
In a separate transaction, state-owned Indian Oil Corporation (IOC), the country’s largest refiner by processing capacity, purchased 4 million barrels of West African crude.
According to the sources, the company bought Angola’s Nemba, Saxi Batuque and Clov crude grades, as well as Congo’s Djeno crude.
The cargoes were reportedly supplied by Chevron, the sources added.
Neither the refiners nor the companies involved commented on the commercial transactions, in line with their usual policy on crude oil trading activities.
The purchases come as Indian refiners continue to diversify crude supplies to meet refinery demand and optimise feedstock procurement amid changing global oil market conditions.
