HPCL, MRPL Seek Up to 6 Million Barrels of Crude Oil
India’s state-run refiners Hindustan Petroleum Corp (HPCL) and Mangalore Refinery and Petrochemicals Ltd (MRPL) are seeking up to a combined 6 million barrels of crude oil through spot tenders, according to documents reviewed by Reuters. The purchases come amid continued uncertainty in global oil shipping routes.
HPCL is looking to import up to 4 million barrels of crude for delivery in September and October, while MRPL is seeking up to 2 million barrels for delivery between October 10 and 20. The tenders indicate that Indian refiners are actively securing supplies amid ongoing volatility in the oil market.
MRPL has also asked suppliers to avoid shipping through the Red Sea and the Strait of Hormuz, according to its tender document. Shipping traffic through the Strait of Hormuz remained low this week as hostilities continued in the Middle East, adding further uncertainty to crude transportation and supply routes.
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