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CORRECTED-UPDATE 1-India MRPL buys 1st sour crude since Nov

Source : REUTERS
Last Updated: Thu, Jan 31, 2013 04:30 hrs

(Corrects price reference to Dubai, not dated Brent, in 3rd paragraph)

NEW DELHI, Jan 31 (Reuters) - India's Mangalore Refinery and Petrochemicals Ltd has bought a cargo of high sulphur crude via a spot tender, its first since November last year, trade sources said.

The refiner is struggling to take delivery of larger size cargoes, Iranian crude in particular, after failing to start operation at a new offshore terminal.

MRPL bought 650,000 barrels of Oman crude from Shell to load in March at about $1.40 a barrel above Dubai quotes on a cost-and-freight (C&F) basis, the sources said.

The refiner last bought sour crude in November when it sought cargoes to replace Iran supplies that were hit by Western sanctions. (Reporting by Nidhi Verma; Writing by Florence Tan; Editing by Ed Davies and Tom Hogue)




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