Two Indian state-owned refineries seek up to 6 million barrels of crude, delivery window extended to October

en.Wedoany.com Reported - Indian state-owned refining companies Hindustan Petroleum Corporation Limited (HPCL) and Mangalore Refinery and Petrochemicals Limited (MRPL) are seeking a combined total of up to 6 million barrels of crude oil through spot tenders. HPCL plans to procure up to 4 million barrels, while MRPL's procurement cap is set at 2 million barrels. No public award results have been announced for the tenders so far.

The crude oil sought by HPCL is scheduled for delivery between September and October 2026. MRPL's delivery window is concentrated between October 10 and 20, and its tender conditions require suppliers to avoid cargoes transported via the Red Sea and the Strait of Hormuz. The tender documents do not specify publicly visible crude grades, and the final procurement volume may fall below the 6-million-barrel tender ceiling.

This is not the first time MRPL has included routing restrictions in its procurement conditions. In late July, the company issued a spot tender for up to 1 million barrels of crude, requiring delivery between August 25 and September 6 while avoiding the Red Sea and the Strait of Hormuz. At that time, some medium-term contract crude purchased by Indian refineries from the Middle East had failed to arrive as scheduled due to shipping disruptions, prompting MRPL to expand its sourcing in the spot market.

Entering August, Indian state-owned refineries continued to increase procurement from regions beyond the Middle East. MRPL purchased approximately 1 million barrels of Omani crude through a tender, with Mitsui & Co. Energy Trading Singapore as the seller, at a premium of about $3 per barrel over Brent spot prices. During the same period, Indian Oil Corporation procured 4 million barrels of West African crude from Chevron, including grades such as Angola's Nemba, Saxi Batuque, and the Republic of Congo's Djeno.

This 6-million-barrel tender continues the procurement approach of Indian refineries supplementing long-term supplies through the spot market. However, unlike the previously concluded Omani and West African crude deals, HPCL and MRPL's current procurement remains in the inquiry and bidding stage. Supplier offers, awarded crude grades, loading ports, and final procurement volumes will be determined after the refineries complete bid evaluation.