India's BPCL buys first Argentinian crude oil cargo for Feb. delivery
12/20/2024 9:00:00 AM
India's Bharat Petroleum Corp Ltd. (BPCL) has bought its first crude oil cargo from Argentina, two trade sources said on Friday, part of the company's effort to diversify the grades processed at its refineries.
The state-run refiner has purchased the 1-MMbbl cargo of Medanito crude for February delivery from European trader Mercuria, the sources said.
The light-sweet grade is of a similar quality to U.S. West Texas Intermediate crude, they added.
BPCL bought the cargo for trial processing at its refineries, one of the sources said.
Data from ship tracking firm Kpler showed the Medanito grade was first delivered to the Asia-Pacific region in October when about 420,000 bbl were discharged at Australia's Geelong refinery.
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