MRPL Said to Buy Oil From Shell on Possible Iran Disruptions
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Royal Dutch Shell Plc sold two high-sulfur oil cargoes to Mangalore Refinery & Petrochemicals Ltd., the biggest state-run Indian buyer of Iranian crude, as supplies from the Persian Gulf state may be disrupted because of global sanctions.
Mangalore, a unit of Oil and Natural Gas Corp., bought 650,000 barrels each of Oman and Arab Medium crude from Shell for loading next month, according to four traders who asked not to be identified because the information is confidential. The Arab Medium comes from the Abu Safah field in the Persian Gulf, whose output is shared by Bahrain and Saudi Arabia. Both the Oman and Abu Safah grades are similar to Mangalore’s imports from Iran, the traders said.