India’s state-run Mangalore Refinery and Petrochemicals Ltd has signed its first term deal with Iraq as it seeks to diversify its crude imports, two sources privy to the matter said.
One of the sources said the state-run refiner will buy 1.5 million tonnes of Basra oil in 2019 from SOMO. MRPL operates a 300,000 barrel-per-day refinery in the southern state of Karnataka.
No immediate comment was available from MRPL. (Reporting by Florence Tan in SINGAPORE and Nidhi Verma in NEW DELHI; Editing by Adrian Croft)