The shipment with 1 million barrels of oil to the Indian Group Mangalore Refinery and Petrochemicals (MRPL), was sold by the oil company Shell

For the first time, the Indian group Mangalore Refinery and Petrochemicals (MRPL) has bought a shipment of oil from the Brazilian field of Tupi in an auction, two industry sources said last Monday (22/03). Samsung Shipyard, one of the largest shipbuilders in the world, reimburses Petrobras in 59 million dollars for bribes related to Operation Lava Jato

Read also

• Votorantim invites candidates with and without experience for 74 job openings at its factories in SP, RJ, MG, PR and other Brazilian states
• Leader in the manufacture of machines, engines and heavy vehicles, Caterpillar, has job openings in its factories
• Curriculum vitae and work portfolio in hand to compete for job openings to work on the construction of a Wind Complex in Bahia
• Nestlé invites candidates with and without experience for vacancies in RJ, MG, SP and other regions of Brazil

The shipment of 1 million barrels of oil was sold by oil company Royal Dutch Shell for delivery in May, Reuters sources added. The price of the deal was not revealed.

The purchase follows plans by India's state-owned refineries to cut imports of Saudi Arabian oil by about a quarter in May, amid disagreements with the Saudis following a decision by OPEC that ignored calls from India for the group to help global economy with a greater supply.

According to the sources, the Indian Group MRPL was looking for "sour" type oil in the tender, but received offers of "sweet" oil at more competitive prices,

Oil from the Tupi field is a popular type among independent Chinese refiners, but purchases from them have slowed in recent weeks, in part due to an increase in the flow of cheap Iranian oil.

About the Tupi field in the Santos Basin pre-salt (RJ)

The Tupi field whose name was changed, in September 2020, from the Lula field (due to legal issues), is an oil field located in the Santos Basin, on the coast of the state of Rio de Janeiro.

Discovered in 2006, it is the first supergiant field in Brazil, a name given to fields with more than five billion barrels of recoverable volume equivalent (“boe” – unit of volume, sum of oil and gas equivalent in oil). The field belongs to the consortium formed by the companies Petrobras, which is the operator of the field, with a 65% stake, the British BG Group, acquired by the Dutch-British Royal Dutch Shell, with 25%, and Petrogal Brasil, a joint venture ” between Portugal's Galp Energia and China's Sinopec, with 10%.

The declaration of commerciality was made on December 29, 2010, when the then Tupi and Iracema discoveries were named Lula and Cernambi fields, respectively.

The recoverable volumes, informed by Petrobras to the National Petroleum Agency – ANP were, respectively, 6,5 and 1,8 billion boe of total recoverable volume. However, the ANP considered that the Tupi and Iracema accumulations belong to a single field and defined that both are part of the Lula Field.

The announced reserves represent more than double the reserves of Roncador, which contains approximately 3 billion recoverable barrels of heavy oil, of lower commercial value and was, until then, the largest Brazilian oil discovery, according to consultant Caio Carvalhão, from Cambridge Energy Research Association, in Rio de Janeiro.