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HPCL likely to increase Saudi crude oil imports

10 Jan 2012 Evaluate

State run Hindustan Petroleum Corporation (HPCL) is likely to double the volume of Saudi crude it imports in an annual deal beginning in April. India is Iran's second-biggest oil client after China, buying 350,000-400,000 barrels per day.

After Mangalore Refinery and Petrochemicals, HPCL is the second Indian refiner to increase supplies under an annual deal with Saudi Arabia. New deal from April to March with HPCL will be for 60,000 barrels per day (bpd) against around 30,000 bpd this year.

HPCL aims to continue its term deal of 70,000 bpd with Iran if the Islamic republic continues to offer 90 days of credit and if global sanctions do not hit supplies and the existing payment mechanism.

HPCL operates a 130,000 bpd refinery at Mumbai on the west coast and a 166,000 bpd plant in southern India.

HPCL Share Price

370.95 0.80 (0.22%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Reliance Industries 1365.10
Indian Oil Corp. 145.85
BPCL 312.05
HPCL 370.95
MRPL 183.20
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