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Mangalore Refinery Buys Oman, Qua Iboe Oil From Itochu, Glencore

Aug. 28 (Bloomberg) -- Mangalore Refinery & Petrochemicals Ltd. bought crude for loading in October, according to three traders with knowledge of the purchases.

The company bought 600,000 barrels of Oman crude, a high-sulfur grade of oil, from Itochu Corp. at a premium of $2.50 a barrel to Dubai prices, the traders said, asking not to be named because the information is confidential.

Mangalore bought Qua Iboe, a low-sulfur crude, from Glencore International Plc at a premium of $5.70 a barrel to Dated Brent prices, they said.

Details of the purchases follow:

----------------------------------------------------------------
Crude:      Oman
Quantity:   600,000 barrels
Loading:    Oct. 1 to Oct. 15
Price:      Premium of $2.50 a barrel to Dubai prices, includes
            freight (CFR basis)
Seller:     Itochu
----------------------------------------------------------------
Crude:      Qua Iboe
Quantity:   600,000 barrels
Loading:    Oct. 1 to Oct. 15
Price:      Premium of $5.70 a barrel to Dated Brent prices,
            includes freight (CFR basis)
Seller:     Glencore
----------------------------------------------------------------
Port of discharge: New Mangalore, India’s west coast
----------------------------------------------------------------

To contact the reporter on this story: Pratish Narayanan in Mumbai at pnarayanan9@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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