Prefer BPCL amongst the oil marketing pack: Mehraboon Irani, Nirmal Bang Securities

In an interview with ET Now, Mehraboon Irani, Principal & Head-Pvt. Client Group Business, Nirmal Bang Securities shares his views about the oil and gas sector.

ET Now: What is the outlook in the oil and gas space and especially if you track a stock like Essar Oil?

Mehraboon Irani: Oil prices are possibly showing signs of coming down and will speculation remain it can go below $100. Also in the days to come it will definitely be positive for all oil users like India. But it can definitely have a dent on oil exploration companies. As far as the oil marketing companies are concerned, I would like to have a contrarian buy into something like BPCL. As far as Essar Oil is concerned, it is a pure trading stock as of now.