The Hindu Business Line : HPCL plans 13.5-mt crude import

Hindustan Petroleum Corporation Ltd (HPCL) plans to import around 13.5 million tonne (mt) crude oil in the current financial year. "Our imports will rise from 12.5 mt in 2006-07 to 13.5 mt this fiscal," said the HPCL Chairman and Managing Director, Mr Arun Balakrishnan. "Our total crude requirement is around 16 mt, of which 3 mt would be met from domestic supplies while the rest would be imported," he told presspersons here. The company plans to invest Rs 2,000 crore in capital expenditure this fiscal and process 16 mt of crude oil in 2007-06, up from 15 mt the previous year. He said the company would import around 11 mt under term contracts from Saudi Arabia, Iran and Iraq, while another 2 mt will be imported from the spot market. Mr Balakrishnan also said the company was planning exports of around 6,80,000 tonne naphtha and fuel oil in the current financial year. HPCL's gross refining margin during the quarter ended March was $5.56 per barrel, and iscurrently around $5.30, he said.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Reliance begins exploratory activities in Cauvery Basin

IFGL Refractories begins commercial production

Fortis, Trehan resolve differences, reach accord

India Infra ropes in 3 banks for raising ECB

Not such a hit, after all...

Nijhawan ties up with Thrifty for car rentals

Simplex Infra plans realty foray with foreign investors

Shantha Biotech plans export to more countries

Roca eyes domestic market for acquisitions

HPCL plans 13.5-mt crude import

Maruti re-engineers Parts Operation