HPCL-Mittal first Indian company to buy Guyanese crude Liza: Report
(Reuters) – The first cargo from new oil producer Guyana to the world’s third-largest crude importer, India, departed this month from a production facility off the South American nation’s coast in a vessel chartered by trading firm Trafigura, data from Refinitiv Eikon showed on Tuesday.
The cargo was bought by HPCL-Mittal Energy Ltd, a joint venture between state-run Hindustan Petroleum Corp and steel tycoon L.N. Mittal, a source with knowledge of the matter said. HMEL operates a 226,000 barrel per day (bpd) Bathinda refinery in the northern state of Punjab.
India has asked refiners to speed up the diversification of imports to cut their dependence on Middle Eastern crudes after OPEC+ decided this month to extend production cuts through April, two sources said.
