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MRPL plans spot buys as Iran row continues

07 Jan 2011 Evaluate

India’s top buyer of Iranian crude, Mangalore Refinery and Petrochemicals, is seeking as much as 2.6 million barrels from the spot market, in the face of any possible supply disruption due to a payments row between the two countries. The RBI in December said that payments to Iran could no longer be settled through a longstanding clearing house system run by central banks, prompting fears over India’s $12-billion annual oil imports from Iran could be threatened.

Peers
Company Name CMP
Reliance Industries 1206.65
Indian Oil Corpn. 130.50
Bharat PetroleumCorp 297.00
HPCL 343.05
MRPL 182.85
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