India's imports of Iranian crude plunged by three quarters in July from June, tanker arrival data obtained by Reuters showed, as the country's only active importer in the past two months curbed buying.
The cut in Essar Oil
India's Mangalore Refinery and Petrochemicals has drawn up a plan including tapping spot markets for more high sulphur oil as imports from Iran, its biggest supplier, have been hit by western sanctions, its managing director said on Tuesday.
Iran's biggest Indian oil client, Mangalore Refinery and Petrochemicals (MRPL) , plans to cut its annual import deal with Tehran by as much as 44 percent to 80,000 barrels per day (bpd) in 2012/13, two sources said.
The cuts in oil imports
India-based Mangalore Refinery and Petrochemicals bought an extra cargo of Saudi Arabia's Arab Super Light for October, three sources familiar with the deal said on Monday.
The 600,000-barrel cargo is on top of the company's total purchase
India's Mangalore Refinery and Petrochemicals (MRPL) sold by tender 60,000 tonnes of 380-centistoke (cst) fuel oil for October loading to Emirates Oil National Company (Enoc) at a premium close to a 12-month high, traders said on Wednesday.
India's state-run Mangalore Refineries and Petrochemicals (MRPL) will ship a cargo of diesel to Iran for the first time this month, filling the void left by privately-owned rival Reliance, three sources said.
The industry sources also told