HPCL plans significant increase in Iraqi oil imports in 2025

08 Nov 2024 CW Team

Hindustan Petroleum Corporation Ltd (HPCL), India's state-run oil company, plans to increase its annual crude oil imports from Iraq to 100,000 barrels per day (bpd) in 2025, marking a 43% growth from its current import deal of 70,000 bpd in 2024. This expansion aligns with HPCL’s ongoing refinery upgrades and increased demand for crude.

The increased imports will support the expansion of HPCL’s Vizag refinery in Southern India, which is undergoing an upgrade to boost its capacity from 274,000 bpd to 300,000 bpd. HPCL also operates the 190,000 bpd Mumbai refinery and is set to begin operations at its 180,000 bpd Barmer refinery in Rajasthan by the end of December 2024.

HPCL’s decision to increase imports is linked to its planned capacity expansions at its refineries and the need for a reliable supply of high-quality crude. HPCL did not immediately respond to requests for comment, but the move is expected to strengthen the company's supply chain and refine its operations in the coming year.

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