India's MRPL buys Brazilian Tupi crude for first time
3/22/2021 11:32:17 AM
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.
The price was not immediately known.
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
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