Mangalore Refinery and Petrochemicals has made its first purchase of Egypt’s Ras Gharib crude, two sources with knowledge of the tender award said.

The purchase is for loading in first half of July. Trader Vitol will supply the 600,000 barrel cargo at a discount of about $5.5 a barrel to Dubai on a delivered basis, the sources said.

MRPL operates a 300,000 barrel per day coastal refinery in Karnataka.

Source: Reuters