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| MRPL may get delayed Iran oil cargoes in August |
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 NEW DELHI (Reuters) - Mangalore Refinery and Petrochemicals Ltd (MRPL) could get two cargoes of Iranian crude in August - but they will be delayed from July, a company source said, as payments problems continue to put August supplies in doubt.MRPL, Iran's top Indian client, usually buys about 150,000 barrels per day (bpd) oil from Tehran in six to seven cargoes each month for its 236,400 bpd refinery in southern India. "This month so far we have got four cargoes including two delayed from June; two are waiting for unloading and one is expected anytime, may be in two to three days. Two July cargoes have been delayed and may come next month," the source said. While other Indian refiners have bought additional supplies for Saudi Aramco to hedge against supply disruptions from Iran in August, MRPL still hopes to get Iranian supplies next month. Top exporter Saudi Arabia has struck deals to sell three million barrels more oil to Indian refiners in August, stepping into the vacuum created by regional rival Iran after it cut supplies as debts topped $5 billion. Iran and India have been struggling to find a mechanism for payments since end-December after India's central bank ended a previous route under pressure from the United States. MRPL hopes that the dispute with Iran can be resolved by this weekend, its managing director U K Basu said earlier this week. Iran has temporarily cut its oil exports to India by 90,000 bpd because of technical problems in that country's oil terminals, Mehr news agency reported on Wednesday.   Socialize this Subscribe to our RSS feed to stay in touch and receive all of TT updates right in your feed reader
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| Last Updated on 29 July 2011 15:37 |