India Secures 5 Million Barrels of Middle East and West African Crude
Indian refiners MRPL and IOC have secured fresh crude oil supplies from the Middle East and West Africa to diversify sourcing and ensure uninterrupted feedstock availability. In a recent procurement activity, MRPL purchased 1 million barrels of Oman crude through a competitive tender at a premium of approximately $3 per barrel over the dated Brent benchmark.
The cargo was reportedly acquired from Mitsui & Co Energy Trading Singapore, reflecting continued demand for medium sour crude grades from the Middle East. Oman crude remains one of the preferred feedstocks for several Asian refiners due to its stable supply, favorable refining characteristics, and geographical proximity.
In a separate transaction, IOC purchased 4 million barrels of West African crude, including a diversified basket of crude grades comprising Angola's Nemba, Saxi Batuque, and Clov, along with Congo's Djeno crude. The cargoes were supplied by Chevron, attracting Asian refiners due to its competitive pricing, good product yield, and flexibility in refinery processing.