Indian firm plans to import Azeri oil
The Hindustan Petroleum Corporation Limited (HPCL) will soon consider signing an agreement on oil imports with the Azerbaijani state oil company Socar, according to Shri K. Murali, the company`s Director of Refineries.
``The Azerbaijani company has come forward to supply crude and the proposal will be taken up with the HPCL Board,`` he told The Economic Times.
Murali said negotiations with Socar are already underway. ``If everything goes well, import of crude oil may start this year,`` he said.
``Azerbaijani crude is also economical for us. The rate is also competitive. That is the reason we may prefer [Azerbaijani oil].``
Indian Oil Corporation Ltd. (IOCL) started importing oil from Azerbaijan in January.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!