HPCL plans to buy 43% more Iraqi oil in 2025, company source says

India's state-run Hindustan Petroleum Corp Ltd is looking at raising its annual crude import deal with Iraq to 100,000 barrels per day (bpd) in 2025, a growth of about 43% from this year, a company source said.

HPCL has an annual deal to buy 70,000 bpd Iraqi oil in 2024, the source added.

The company's crude oil imports would rise next year as it commissions some residue upgradation units at its 274,000 bpd Vizag refinery in Southern India. The refinery is being expanded to 300,000 bpd.


HPCL also operates the 190,000 bpd Mumbai refinery in western India.

It is also expected to start operations at its 180,000 bpd Barmer refinery in India's desert state of Rajasthan by end-December or early next year.

HPCL did not immediately respond to a Reuters request for comments.