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Indian refiners seek 2.6m bbl extra Saudi oil

New Delhi, February 11, 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.

India's Mangalore Refinery and Petrochemicals Limited 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 percent expansion of its capacity to 300,000 bpd by end-March.

Hindustan Mittal Energy Limited (HMEL), a joint venture between state-run Hindustan Petroleum Corporation 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.

No comments were available from the two Indian companies.-Reuters




Tags: Saudi | Oil | Iran | Indian refiner |

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