Indian Oil, MRPL tap spot markets to replace Russian supply, sources say
New Delhi/Singapore: State-run refiner Indian Oil is seeking more oil from the Americas while Mangalore Refinery and Petrochemicals (MRPL) has bought Abu Dhabi crude to replace Russian oil, according to traders and a document reviewed by Reuters on Thursday.
Many Indian refiners paused new orders for Russian oil after the U.S. imposed sanctions last week on Moscow’s top two producers, with some turning to the spot market for alternatives, industry sources said.
