Depending on sanctions, we will decide on Iran oil: MK Surana, HPCL

Depending on the quantities we had procured in the past, if there is a possibility, we will procure Iran oil in future also, MK Surana, CMD, HPCL, tells ET Now.

Edited excerpts:

Are you worried about the Iran sanctions kicking in soon?

The HPCL crude basket has got very little Iran oil. Earlier, depending on the economic model, we were buying small quantities of Iran oil. Depending on the sanctions situation, we will take necessary action. We have other alternatives as well.


What alternatives are you talking about? Have you been buying more oil from Saudi Arabia?

No, from various other sources and not only Saudis.

You have also said that you have not procured any more Iranian crude for this year. What about next year? Will you be contracting more Iranian crude going forward?

We run an economic model every year on software and depending on the configuration of our refineries, that suggests the most economic and commercially viable crude oil. Depending on HPCL’s refinery configuration, there is Iran oil, but not a substantial quantity. It was not the top ranking oil in the HPCL crude basket, unlike some of the other refineries.

Depending on the quantities we had procured in the past and if there are possibilities, we will procure in future also.