HPCL Increases Oil Import Quota from Iraq by 43%

Hindustan Petroleum Corp Ltd (HPCL), India's state-owned oil company, plans to increase its annual crude oil import from Iraq to 100,000 barrels per day (bpd) in 2025, a rise of approximately 43% from its 2024 deal of 70,000 bpd, according to a company source.

This increase aligns with HPCL’s ongoing refinery expansions. The company is commissioning residue upgradation units at its Vizag refinery in southern India, raising its capacity from 274,000 bpd to 300,000 bpd. HPCL also operates the 190,000 bpd Mumbai refinery in western India and expects to begin operations at its new 180,000 bpd Barmer refinery in Rajasthan by late December or early next year.

These expansions will bolster HPCL's refining capacity, supporting its increased crude imports and enhancing its ability to meet domestic fuel demand.

HPCL, an Indian PSU in petroleum and natural gas sector, is based in Mumbai. It is a branch of the Oil and Natural Gas Corporation (ONGC), which is government-owned by India and managed by the Ministry of Petroleum and Natural Gas. Since 2018, Oil and Natural Gas Corporation has majority ownership of its stake. HPCL has a IT infrastructure in place to aid its primary operations. The HITEC City in Hyderabad houses the data center.