Hindustan Petroleum Corporation (HPCL) has reportedly bought 2 million barrels of Nigeria’s Qua Iboe crude from Vitol Group for loading from June 1 to June 30, via tender. Vitol Group sold a cargo of North Sea Forties crude, it’s eighth since March 28, as the price dropped to the lowest in more than a week.
Recently, the company inked a Memorandum of Understanding (MoU) with Ministry of Petroleum & Natural Gas (MOP&NG) for the year 2013-14. The MoU targets comprise both Financial and Physical parameters covering entire gamut of operations of the Corporation.
