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Indian refiners seek 3 million barrels extra Saudi oil

Steel News - Published on Tue, 14 Feb 2012

Indian refiners have sought at least 2.6 million barrels extra supplies from Saudi Aramco for March.

According to sources familiar with the plan said that India\'s Mangalore Refinery and Petrochemicals Limited has sought an extra 600,000 barrel cargo.

MRPL has doubled its annual crude oil import deal for 2012 with Saudi Aramco to 42,000 barrels per day to feed 25% expansion of its capacity to 300,000 barrels per day by end March.

Hindustan Mittal Energy Limited, a JV between state run Hindustan Petroleum Corporation and billionaire Lakshmi Mittal\'s Mittal Energy, has asked for 2 million barrel crude for lifting in March. The supply of extra barrels is yet to be confirmed by Saudi Aramco.

The sources said that previously Saudi Aramco supplied one million barrels crude to HMEL for lifting in end January. HMEL owns 180,000 Bathinda refinery in northern Punjab state and does not have a term deal with Saudi Aramco. The refinery is yet to stabilize and operate at full capacity.

(Sourced from Reuters)

Posted By : admin on Tue, 14 Feb 2012
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