Mangalore Refinery and Petrochemicals (MRPL) has reportedly acquired second Argentinian crude cargo this year. The company has bought the 1-million-barrel cargo from trading firm Glencore at a discount of around $2.70 to dated Brent on a free-on-board basis for lifting in the second half of September through a tender.
This is the second purchase of the grade by the state-run refiner, which normally buys West African sweet grades in its monthly spot tenders. MRPL is the only Indian company that has purchased the grade so far.
Further, the company which operates a 300,000 barrels per day refinery in Southern India aims to buy as much as 40,000 bpd of Latin American grades in the current fiscal year that began on April 1, 2014.
MRPL, a schedule ‘A’ CPSE and a subsidiary of ONGC is a State of Art Grassroot Refinery located in a beautiful hilly terrain, north of Mangalore city, in Dakshin Kannada region.
