The refiner will buy 3.2 million tonnes, or about 64,000 barrels per day (bpd), from Iraq this year, up from 44,000 bpd in 2021.
see photosIn the last quarter of 2021, HPCL increased the capacity at its Mumbai refinery to 190,000 bpd.
Indian state refiner Hindustan Petroleum Corp will lift 45% more oil from Iraq this year to meet its expanded refining capacity, sources familiar with the matter said. He said the refiner would buy 3.2 million tonnes or about 64,000 barrels per day (bpd) from Iraq this year, up from 44,000 bpd in 2021.
Iraqi state-owned marketers SOMO and HPCL did not immediately respond to a Reuters request for comment. Iraq is the top supplier of oil to India, and more purchases by HPCL will further strengthen the Middle East country’s share in Indian markets.
HPCL aims to complete a bottom upgradation project at Vizag Refinery by the end of the year.
As OPEC’s second-largest oil producer, Iraq will be able to boost exports by 250,000 bpd from the second quarter after completing the installation of pumping stations at its Gulf ports, an Iraqi oil source has said.
Last year HPCL chairman MK Surana had said that the company’s high sulfur crude oil imports would increase by 300,000 bpd at its Vizag plant by March this year after the expansion of its 166,000 bpd plant.
It aims to complete a bottom upgradation project at Vizag Refinery by the end of the year.
In the last quarter of 2021, HPCL increased the capacity at its Mumbai refinery to 190,000 bpd.
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