Crude oil sourcing presently volatile; procuring more on landed basis: HPCL Chief
Vikas Kaushal, chairman and managing director of Hindustan Petroleum Corporation Limited (HPCL), said the company is buying more crude oil on a landed basis rather than free‑on‑board (FOB) or long‑term contracts. The shift reflects volatility in global oil markets and HPCL’s strategy to secure supplies directly at the destination port. The statement was made to the state‑owned Oil Marketing Company (OMC).