Indian state refiner Hindustan Petroleum Corp will lift 45 per cent more oil from Iraq this year to meet its expanded refining capacity, media said.

• Shares of Shriram Pistons skyrocketed 9% on Acquiring Antolin Lighting
• Stocks in Focus: Lloyds Engineering, SEAMEC, RailTel, and Others
• Overnight Stock Market Movements: Key Developments 
• Stocks Under F&O Ban: Bandhan Bank, and Others
• India, Canada Hold Talks to Resume Trade Pact Negotiations

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.

Iraqi state-owned marketer SOMO and HPCL did not immediately respond to Reuters’ request for comment.

Iraqi 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.