Hindustan Petroleum to turn to Iraq to replace Iran oil
- Iran: Wednesday, February 13 - 2013 at 02:58
Hindustan Petroleum Corp Ltd (HPCL), India's third-biggest buyer of Iranian crude in the current fiscal year, plans to cut its purchases and replace them with Iraqi oil as sanctions on Tehran bite harder, Reuters has reported, citing a source with direct knowledge of the refiner's plans. HPCL aims to have a contract for only token volumes from Iran in the year that starts in April, the source said, partly because of growing concerns insurance for installations, including refineries, handling Iranian crude might be hard to find because of the tighter sanctions. "Volumes from Iran depend on the impact of sanctions. If sanctions are eased or if the government helps on the insurance issue, then Iran imports may go up. But at this moment no one wants to take the risk," the source said.
- HP Enterprise Services signs global agreement...
- Qatar Airways announces expansion on three...
- Boeing delivers 777-300 jetliner to Saudia
- Du launches BlackBerry Q10 4G in UAE
- Samsung Electronics Levant and BCI launch...
- BBM coming to iPhone and Android this summer
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.