India’s Bharat Petroleum Corp Ltd has bought its first crude oil cargo from Argentina, two trade sources said on Friday, part of the company’s effort to diversify the grades processed at its refineries.
The state-run refiner has purchased the 1-million-barrel cargo of Medanito crude for February delivery from European trader Mercuria, the sources said.
The light-sweet grade is of a similar quality to U.S. West Texas Intermediate crude, they added.
BPCL bought the cargo for trial processing at its refineries, one of the sources said.
BPCL did not immediately respond to a request for comment. Mercuria typically does not comment on commercial deals.
Data from ship tracking firm Kpler showed the Medanito grade was first delivered to the Asia Pacific region in October when about 420,000 barrels were discharged at Australia’s Geelong refinery.