HPCL buys Brazil and W.Africa crude for Rajasthan refinery, sources say

Hindustan Petroleum

04/06/2026 08:58

NEW DELHI/SINGAPORE, June 4 (Reuters) - India's Hindustan Petroleum Corp HPCL.NS has bought 2 million barrels of oil from Brazil and West Africa via a tender for its 180,000 barrel-per-day (bpd) refinery in the desert state of Rajasthan, trade sources said on Thursday.
State-run HPCL has bought Brazil's Buzios crude from state-run Petrobras at a premium of $1.5 per barrel to the dated Brent contract and Nigeria's Agbami crude from Shell for HPCL Rajasthan Refinery Ltd (HRRL), the sources said.
HPCL has a 74% stake in HRRL while the Rajasthan state government owns the rest.
HPCL issued a separate tender seeking sweet crude, which will close later this week for its own refineries, the sources said.
The company operates a 190,000-bpd refinery at Mumbai in western Maharashtra state and a 300,000-bpd refinery at Visakhapatnam in southern Andhra Pradesh. 
The companies typically do not comment on their commercial deals.   

(Reporting by Nidhi Verma in New Delhi and Siyi Liu in Singapore; Editing by Harikrishnan Nair)
((siyi.liu@thomsonreuters.com;))