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Hindustan Petroleum to purchase 40,000 barrels per day of Basra light oil

24 May 2013 Evaluate

Hindustan Petroleum Corp (HPCL) is likely to purchase up to 40,000 barrels per day (bpd) of Basra light oil from France's Total at a discount to the official selling price. It will lift 15,000 bpd of the Iraqi oil with an option to buy another 25,000 bpd. It has halted imports from Iran and plans to cut purchases from Saudi Arabia because of insurance problems triggered by western sanctions.

The company is also looking to buy 60,000 bpd from Iraq's State Oil Marketing Organisation (SOMO) compared to 40,000 bpd last year. HPCL operates a 166,000 bpd Vizag refinery in southern India and a 130,000 bpd plant in western Maharashtra state.

 

HPCL Share Price

373.65 -0.20 (-0.05%)
05-May-2026 16:59 View Price Chart
Peers
Company Name CMP
Reliance Industries 1464.15
Indian Oil Corp. 142.15
BPCL 298.85
HPCL 373.65
MRPL 155.85
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