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India’s Nayara Energy raises fuel supply to HPCL after EU sanctions
India’s Nayara Energy has raised fuel sales to state retailer Hindustan Petroleum Corp after the Russia-backed refiner’s exports were hit by European Union sanctions, a government source said on Tuesday.
Since the imposition of sanctions, Nayara has been operating its 400,000 barrel-per-day (bpd) Vadinar refinery in western India at 70-80% capacity.
Higher local sales of refined fuels would help the company to sustain its refinery runs, the source added.
“We would like them (Nayara) to operate at as high capacity as it can,” the source, who did not wish to be identified, told reporters.
While other state fuel retailers – Indian Oil Corp and Bharat Petroleum Corp – are self sufficient, HPCL buys some quantity of diesel and petrol from other companies for local sales, the source said.
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