W.Africa Crude - Market quiet, MRPL tender in view

Mangalore Refinery and Petrochemicals

12/08/2026 17:23

LONDON, Aug 12 (Reuters) - The West African crude oil market was quiet on Wednesday, a trader said, as participants monitored a tender issued by Mangalore Refinery and Petrochemicals Ltd (MRPL).  
India's state-run refiner MRPL issued a tender, a trade source said, while Hindustan Petroleum Corp bought Persian Gulf cargoes. 
The market was otherwise quiet, he added. 
In the wider West African market, Nigeria is considering changes to crude allocation and pricing rules to improve feedstock access for its refiners, including Dangote Refinery, the local oil refiners' association said.
Nigeria approved tax waivers for nearly 4,000 electric vehicles in the first half of this year, government data showed. While official data is not available, EVs now likely account for less than 1% of the total vehicle fleet, dealers say, equivalent to only a few tens of thousands of vehicles.
Nigerian President Bola Tinubu approved a new regulatory and fiscal framework for offshore oil and gas projects, to attract up to $50 billion in investment.
Additionally, Russia has begun shipping crude oil via its Arctic sea route this year at a faster pace than a year ago, with seven cargoes carrying some six million barrels of crude already heading to Asia, according to three trade sources and LSEG shipping data.
Russian crude is bought by India and China, keys markets for West African crudes.

 (Reporting by Seher Dareen; Editing by Diti Pujara)
 ((seher.dareen@thomsonreuters.com))