MRPL bucks trend and opts for more Iran crude

Vol 5, PW 26 (27 Feb 02) News in Brief
     

Mangalore Refinery wants to buy an extra 1m tonnes of Iranian crude in the financial year to end-March 2003.

Last year Mangalore (installed capacity: 9.69m t/y) contracted to buy 3.5m tonnes of Iran crude. Other refiners are less keen.

Indian Oil for example, is unwilling to give firm quantities of Iranian crude requirements for next year because of lower refinery margins. Last year, state refiners (among them Bharat Petroleum and Kochi Refineries) bought 2.5m tonnes of Iran crude.

Indian refiners process Iran Light (API 33.1) and Iran Heavy (API 30.2) as a 75:25 ratio blend. Only Lavan Blend (API 34.3) and Forozan Blend (API 30.7) are suitable for "regular processing".