HPCL to start global oil trading desk: Report

HPCL, one of the leading petroleum products retailers in the country, is reportedly planning to set up an international oil trading desk. The desk would either be set up in Singapore or London. With this trading desk, the company will be able enter and exit markets as and when required. It will take care of the company’s hedging and trading activities. At such desks, operations take place through the day, helping traders watch out for arbitration possibilities and support agreements between companies and investors.

HPCL is a Government of India Enterprise with a Navratna Status, and a Forbes 2000 and Global Fortune 500 company. It owns & operates 2 major refineries producing a wide variety of petroleum fuels & specialties, one in Mumbai of 6.5 MMTPA capacity and the other in Visakhapatnam, with a capacity of 8.3 MMTPA.