MRPL seeks up to 2 million barrels of sweet and sour grade oil, BPCL plans to buy 12 million barrels of Murban oil
Oil refiners Mangalore Refinery and Petrochemicals Limited (MRPL) and Bharat Petrochemicals Limited (BPCL) in India have issued tenders this week in view of the US imposing strict sanctions on crude oil supplies from Russia. The US had imposed sanctions targeting the production and tanker supplies of Russia, the world’s second-largest crude oil producer. This disrupted the supply of crude oil from Russia. These oil refining units of India have issued these tenders more than a week after these sanctions were imposed.
According to the tender and sources, MRPL has issued tenders for crude oil imports after more than a year. In these tenders, 10 to 20 lakh barrels of crude oil have been offered to be made available on the basis of cost and freight (C&F) or supply at port (DAP) during February 16 to 28.
The grade of crude oil was not marked in these notices, but according to sources, MRPL is ready to supply sweet and sour grade crude oil. The tender will close on January 23 and the bid of the same day will be valid. Apart from this, BPCL is seeking supply of 12 million barrels of crude oil of the United Arab Emirates (UAE)’s major Murban crude oil through annual tender. According to the source, this oil refiner plans to buy 1 million barrels of light crude oil per month from April 2025 to March 2026.
A source said technical tenders are proposed to be issued later this week while commercial tenders will be invited next week. Another source said BPCL had sought 8 million barrels of crude oil from Murban and 4 million barrels from Oman in the last tender. Companies usually do not comment on commercial agreements. India’s top oil refiner Indian Oil Corporation bought 7 million barrels of crude oil from the Middle East and Africa through tender in the middle of last week. Sources said India’s state-owned oil refiners have asked Abu Dhabi Oil Company to offer crude oil price on delivery due to cost management.