India MRPL sells diesel at higher premiums

NEW DELHI: India's Mangalore Refinery & Petrochemicals Ltd (MRPL) sold a total of 76,000 tonnes of distillates for May lifting, with its diesel cargo having fetched a higher premium than before, traders said on Monday.

MRPL sold 40,000 tonnes of 0.5 percent diesel for May 14-16 loading from New Mangalore to BP at premiums of 70 cents a barrel to Middle East quotes on a free-on-board (FOB) basis.

This was higher compared to 60 cents a barrel premium it had fetched for a parcel sold to Trafigura previously for April 26-28 loading.

The state-owned refiner had also sold 36,000 tonnes of jet fuel to Mercuria at a discount of $1.48 a barrel to Singapore quotes on a FOB basis.