India’s state-run Mangalore Refinery and Petrochemicals Ltd has bought 1 million barrels of Russian Urals crude for May loading via a tender, three trade sources familiar with the deal said, a rare purchase driven by the discount offered.
Refiners in India, the world’s third biggest oil importer and consumer, have been snapping up Russian oil through spot tenders since Russia’s invasion of Ukraine on Feb. 24, taking advantage of deep discounts as other buyers back away.
