HPCL buys 4 million barrels of West Asian crude, traders say
HPCL purchases 2 million barrels of Murban crude from BP, another 1 million barrels of Murban from PetroChina and 1 million barrels of Oman crude from Trafigura
India's state-owned refiner Hindustan Petroleum Corp (HPCL) recently acquired 4 million barrels of West Asian crude oil, according to trade sources. The bulk of this purchase, 2 million barrels, originated from BP's Murban crude, while the remaining 1 million barrels came from PetroChina's Murban grade and 1 million barrels from Oman's Oman crude, both supplied by Trafigura.
These crude grades are loaded and exported from regions outside the Strait of Hormuz. The Murban crude was purchased at a price approximately $7 per barrel higher than the dated Brent contract, whereas the Oman crude was procured at a price ranging from $4 to $5 per barrel above the Brent contract. It is important to note that the companies involved typically refrain from commenting on commercial transactions.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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