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Market Chatter: Indian Refiners Buy Omani, West African Crude

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India-based Mangalore Refinery and Petrochemicals, a subsidiary of state-owned exploration and production company Oil and Natural Gas Corporation, has purchased 1 million barrels of Omani crude, Reuters reported Wednesday, citing trade sources.

The buyer made the purchase via a tender process with the crude priced about $3 a barrel higher than the dated Brent contract. Mitsui & Co Energy Trading Singapore was the likely seller, the report said.

Meanwhile, refiner Indian Oil Corp acquired four million barrels of West African crude, which included Angolan Nemba, Saxi Batuque and Clov, along with Congo's Djeno crude grades, from Chevron, the report said.

has reached out to Mangalore Refinery and Petrochemicals, Chevron, and Indian Oil Corp for comments. Mitsui & Co Energy Trading Singapore could not be reached.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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