Friday, 3 April 2020

HPCL to start global oil trading desk

Updated: November 4, 2016 11:30 am

State-run Hindustan Petroleum Corp. Ltd (HPCL) is planning to set up an international oil trading desk, said a company official.  The desk would either be set up in Singapore or London.  “We are thinking of setting up an oil trading desk. We are working on the details which will be finalised in the next six-12 months. Given Singapore is the trading hub, we are more inclined to it,” said one of the two officials cited above, on condition of anonymity. “A trading desk gives us the flexibility to enter and exit markets as and when required. It will take care of our hedging and trading activities. At such desks, operations take place through the day, helping traders watch out for arbitration possibilities and support agreements between companies and investors,” HPCL official added.

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