Hindustan Petroleum Corp. said it a statement it has been in touch with Somo, the oil-marketing company of the Iraq government, to seek an allocation of 2 million barrels of crude oil in the coming month. The procurement comes after India’s oil ministry asked Hindustan Petroleum and Indian Oil to purchase 4 million barrels of Basra light crude oil on behalf of Indian Strategic Petroleum Reserves, Hindustan Petroleum Corp. said in a filing to stock exchanges Thursday. Indian Oil Corp. separately said it acted as a facilitator for the import of crude from Iraq on behalf of the Indian government. The crude is meant for the strategic reserves, the company said in a filing to stock exchanges. India, the world’s fourth-largest petroleum consumer, is setting up three centers at Vishakhapatnam, Mangalore, and Padur, in the southern part of India, to store crude to meet its needs in times of […]