Oil at $70/b was ‘temporary’: HPCL Iranian crude grades meet India refinery specs India discovered Farzad B in 2008 India is still hopeful it can participate in the Farzad B natural gas field development in the Persian Gulf after Iran decided to go ahead with the project without foreign participation, oil ministry officials told S&P Global Platts on May 23. Receive daily email alerts, subscriber notes & personalize your experience. Register Now With US and Iran talks progressing to end sanctions against the Middle East country, some Indian refiners also told Platts they are looking forward to resuming crude trade with Iran. “Any positive development on Iran would reduce crude price and help consuming countries like India,” M.K. Surana, chairman and managing director of Hindustan Petroleum Corp. Ltd (HPCL). India’s No 3 state-run refiner, told Platts. Oil prices are unlikely to go much beyond $70/b for long. “Any […]