New Delhi, July 06: Hindustan Petroleum Corporation Ltd(HPCL) has tied-up with Petronas of Malaysia for importing about 250,000 tonnes of crude oil, a small proportion of its total imports of 8.5 million tonnes this fiscal. HPCL, which plans to have term contracts for more than 70 per cent of its crude oil imports in 2003-04 through, will buy 0.25 million tonnes of Tapis Blend, Miri Light or Labuan Grade depending on the Malaysian firm's option between July 01, 2003 and June 30, 2004, sources said.

During 2003-04, ONGC will supply HPCL a little over five million tonnes of crude from domestic fields while the remaining of 13.60 million tonnes crude requirement by HPCL would be imported.
HPCL plans to buy 3.70 million tonnes of Arab mix and Arab Light from Saudi Aramco, 1.50 million tonnes of Murban, Umm Saif and Zakum from Abu Dhabi National Oil Company and 0.81 million tonnes of Essider from Libya's National Oil Company. The remaining 2.25 million tonnes of crude would be bought from the spot market. Bureau Report