Indian state refiner Hindustan Petroleum Corp will raise 45% more oil from Iraq this year in order to meet its expanded refining capacity.
The refiner will buy 3.2 million tonnes or about
64,000 barrels per day (bpd) from Iraq this year, up from 44,000 bpd in 2021, they said.
Iraq is the top supplier of oil to India and higher purchases by HPCL will further strengthen the Middle East nation's share in Indian markets.
As OPEC's second-largest oil producer, Iraq will be able to boost exports by as much as 250,000 bpd from the second quarter after finishing the installation of pumping stations at its Gulf ports.
Last year HPCL's chairman M K Surana said the company's import of high sulphur crude oil would rise after the expansion of its 166,000-bpd plant at its Vizag plant to 300,000 bpd by March this year.
It aims to complete a bottom upgradation project at the Vizag refinery by the end of the year.
