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.
| Company Name | CMP |
|---|---|
| Reliance Industries | 1365.10 |
| Indian Oil Corp. | 145.85 |
| BPCL | 312.05 |
| HPCL | 370.95 |
| MRPL | 183.20 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: