State-run refiner Indian Oil (IOC.NS), opens new tab is seeking more oil from the Americas while Mangalore Refinery and Petrochemicals (MRPL) (MRPL.NS), opens new tab has bought Abu Dhabi crude to replace Russian oil, according to traders and a document reviewed by Reuters on Thursday,
Reuters reports.
Many Indian refiners paused new orders for Russian oil after the U.S. imposed sanctions last week on Moscow's top two producers, with some turning to the spot market for alternatives, industry sources said.
MRPL has bought 2 million barrels of Abu Dhabi Murban crude from Glencore via a tender to replace Russian supply in December, trade sources said.
The refiner is expected to tap spot markets every month and seek additional supplies from its term suppliers as it has shunned oil from Russia to avoid sanction risks, a company source said.
Indian refiner HPCL-Mittal Energy Ltd on Wednesday said it had also stopped buying Russian oil.
IOC has invited initial bids for 24 million barrels of oil from the Americas for the first quarter of 2026, according to a document reviewed by Reuters on Thursday.
The tender seeks cargoes of both low-sulphur and high-sulphur crude oil grades, according to the document.
