Oil refiners gain amid OPEC deal talks

Reuters Updated - January 20, 2018 at 12:52 AM.

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Stock of oil refining companies gained amid OPEC deal talks.

Oil refining stocks such as Bharat Petroleum Corp, Hindustan Petroleum Corp, Indian Oil Corp and Mangalore Refinery and Petrochemicals Ltd gained 1 to 2 per cent.

The companies are jointly negotiating oil purchase deals with OPEC producers for the first time, according to Indian industry and government officials familiar with the talks.

The four refiners together control about 60 per cent of India's 4.6 million barrels per day capacity.

State oil officials from the UAE, Kuwait and Saudi Arabia were not immediately available for comment on the talks.

Published on February 24, 2016 04:30