BPCL Makes Its First US Oil Purchase, Buys Mars, Poseidon

 State-run Bharat Petroleum Corp Ltd (BPCL) has made its first purchase of US oil, buying high sulphur crudes Mars and Poseidon in a tender, its head of refineries R. Ramachandran said.

BPCL is the second Indian refiner to buy US Gulf crude after Prime Minister Narendra Modi's visit to Washington last month when President Donald Trump said the United States looked forward to exporting more energy products to the world's third-biggest oil buyer.

BPCL has bought a cargo containing 500,000 barrels each of Mars and Poseidon for delivery from September 26 to October 10.

Ramachandran said the landed price of the American oil cargo would be "reasonably competitive" to the delivered price of the high sulphur oil from the Middle East. Earlier this month Indian Oil Corp, the nation's top refiner, bought 1.6 million barrels of Mars. A trade source said BPCL has bought the cargo from Shell.

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