NEWS
Oil  

Hindustan Petroleum Says Could Buy 0.9 Million Tons of Iran Oil

India’s Hindustan Petroleum Corporation Limited could buy 0.9 million tons of Iran oil in its 2018/19 financial year, said Vinod S Shenoy, the company’s director of refineries.

HPCL bought 0.7 million tons of Iranian oil from April 2018 to February 2019, Chairman M K Surana said.

Surana added that the company will buy about 4.5 million tons of Iraqi crude in 2019, the same as last year, Reuters reported.

For the December 2018 quarter, HPCL posted a gross refining margin of $3.72 a barrel, against $9.04 in the same period a year earlier.

For the December quarter, the company posted an inventory loss of $484.14 million due to a fall in crude oil prices.

Surana said HPCL will complete the construction of its proposed 180,000 barrels per day refinery in western India by October 2022.

India is in talks with the United States to extend a waiver on sanctions imposed on Iran’s crude oil exports, a senior Indian official said.

India, Iran’s second-biggest oil customer after China, has already reduced its intake of Iranian oil but has not decided whether to end purchases completely.

“We are talking to the US on energy related aspects, including the waiver from sanctions. It is a continuous process,” said Sanjay Sudhir, joint secretary for international cooperation in the oil ministry.

News No: 3586
Date: 2019/02/07 - 14:41
News Source: Financial Tribune

Hindustan  Petroleum  Oil  HPCL  US sanctions 

Comments:

Leave a Comment:

   
   
   
 

Vietnam's Tong Dong Steel Plans To Increase Output by 20% in 2019

Vietnam based steel mill Tong Dong A Corporation - a flat steel specialist mainly producing galvanised steel coils (GI) and galvanised-aluminium steel coils (GL) is planning to to increase its output in 2019.
 

US Oil Prices Up 50%

Venezuela is in chaos. Iran is grappling with US sanctions. And now there is a surge of violence in Libya. Trouble in these three OPEC nations has helped send US oil prices climbing back above $64 a barrel.
 

India Delays May Order for Iran Oil

Indian refiners are holding back from ordering Iranian oil for loading in May pending clarity on whether Washington will extend a waiver from US sanctions against the OPEC-member, four sources said.
 

Oil Climbs to 5-Month High Amid OPEC Cuts

Oil prices rose to their highest level since November 2018 on Monday, driven upwards by OPEC’s ongoing supply cuts, US sanctions against Iran and Venezuela, fighting in Libya as well as strong US jobs data.
 

Norway’s $1Trillion Fund Eyes Renewable Assets

Weeks after Norway’s government proposed that the country’s $1-trillion fund divest from pure exploration and production oil companies, the cabinet said that it will allow the world’s biggest sovereign wealth fund to invest in unlisted renewable energy infrastructure.
 

India: MOIL Increases Manganese Ore Prices , sets Production Target of 25 MnT by 2025

Manganese Ore India Ltd (MOIL), a Mini Ratna Schedule-A CPSE, under the administrative control of the Ministry of Steel, is the largest producer of manganese ore in the country
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners