Middle East Economic Survey


No 7



HPCL To Triple Imports Of Iranian Crude

Indian refiner Hindustan Petroleum Corporation Ltd (HPCL) announced on 6 February that it will triple its crude oil imports from the National Iranian Oil Company (NIOC) to 3mn tons (60,000 b/d) on a term contract basis for financial year 2009-10. In 2008-09 the company imported 1mn tons (20,000 b/d) of oil from Iran. The Indian firm has also decided to reduce its annual imports of Iraqi crude oil from...