HPCL Secures 2 Million Barrels of Nigerian Crude for Rajasthan Refinery
HPCL has bought two million barrels of Nigerian crude from Glencore for delivery to its Rajasthan refinery, diversifying supply as West Asia disruptions push state fuel retailers toward more spot-market sourcing.
HPCL bought two million barrels of Nigerian crude from Glencore for its Rajasthan refinery. Separately, IOC increased spot-market sourcing amid West Asia disruptions, while India’s three state fuel retailers reported combined April-June losses of ₹18,149 crore.
Why this matters
The purchase follows HPCL's reported ₹11,526 crore Q1 loss, with weak marketing margins outweighing refining gains, while fuel retail sales rose 8.1%.
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