Standard Post with Image

India Seeks At Least 2.6 MN BBL Extra Saudi Oil in March: Sources

  • Refiners have sought at least 2.6 million barrels extra supplies from Saudi Aramco for March, sources familiar with the plan said on Friday.India's Mangalore Refinery and Petrochemicals Ltd has sought an extra 600,000 barrel cargo, two sources said.MRPL has doubled its annual crude oil import deal for 2012 with Saudi Aramco to 42,000 barrels per day (bpd) to feed a 25 per cent expansion of its capacity to 300,000 bpd by end-March.
  • Hindustan Mittal Energy Ltd (HMEL), a joint venture between state-run Hindustan Petroleum Corp and billionaire Lakshmi Mittal's Mittal Energy, has asked for 2 million barrel crude for lifting in March, said one of the sources.The supply of extra barrels is yet to be confirmed by Saudi Aramco, said the sources.Previously Saudi Aramco supplied one million barrels crude to HMEL for lifting in end-January.HMEL owns a 180,000 Bathinda refinery in northern Punjab state and does not have a term deal with Saudi Aramco. The refinery is yet to stabilise and operate at full capacity.

Source