Nov 25, 2013, 08.50 PM IST
HPCL stopped buying Iranian crude in April due to insurance problems triggered by EU sanctions. But a landmark deal to curb Tehran's nuclear programme struck on Sunday includes easing of some restrictions that should end these insurance problems.
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HPCL may resume buying Iran oil after sanction eased
HPCL stopped buying Iranian crude in April due to insurance problems triggered by EU sanctions. But a landmark deal to curb Tehran's nuclear programme struck on Sunday includes easing of some restrictions that should end these insurance problems.
Like this story, share it with millions of investors on M3
HPCL may resume buying Iran oil after sanction eased
HPCL stopped buying Iranian crude in April due to insurance problems triggered by EU sanctions. But a landmark deal to curb Tehran's nuclear programme struck on Sunday includes easing of some restrictions that should end these insurance problems.
Also read: India-Iran trade ties to grow post nuke deal: Anand Sharma
HPCL stopped buying Iranian crude in April due to insurance problems triggered by EU sanctions. But a landmark deal to curb Tehran's nuclear programme struck on Sunday includes easing of some restrictions that should end these insurance problems.
"Till yesterday this crude was not under consideration because of insurance hurdles, but now because of this recent development of suspension of EU and the US sanctions on insurance, Iranian crude has come into active consideration of HPCL," B K Namdeo told Reuters.
"If they continue to offer crude at the existing terms and conditions, we may resume purchases," Namdeo said.
Namdeo had earlier said his company may buy 6 million barrels of Iranian oil by March 31 if the insurance issues are resolved.
HPCL stock price
On November 25, 2013, Hindustan Petroleum Corporation closed at Rs 214.55, up Rs 12.15, or 6.00 percent. The 52-week high of the share was Rs 381.40 and the 52-week low was Rs 158.45.
The company's trailing 12-month (TTM) EPS was at Rs 197.41 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 1.09. The latest book value of the company is Rs 405.34 per share. At current value, the price-to-book value of the company is 0.53.
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