HPCL Shifts to Delivered Oil Purchases Amid High Rates
India state-run Hindustan Petroleum is increasingly buying Middle Eastern crude on a delivered basis as producers offer discounts to offset surging shipping costs. Middle East supply disruptions and tanker attacks have driven freight rates near record highs.
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HINDUSTAN PETROLEUM CORP is increasingly purchasing Middle Eastern crude on a delivered basis as producers offer discounts to offset rising freight costs, chair Vikas Kaushal said on Friday morning. The refiner operates three facilities in India with a combined capacity of 670,000 barrels per day. The shift helps the company navigate escalating maritime risks and surging transport expenses.
