OREANDA-NEWS. July 27, 2011. Hindustan Petroleum Corp., India’s third-largest state oil refiner, will buy an additional 1 million barrels of crude from Saudi Arabia next month to make up for missing supply from Iran, a company official said.

“We will get additional cargoes from Saudi Arabia in August,” K. Murali, Hindustan Petroleum’s director of refineries, said by telephone today. “In the future we can also take from other countries that we have contracts with, for example Kuwait.”

The Mumbai-based company has term contracts with Saudi Arabia and Kuwait, Murali said. Hindustan Petroleum buys about 2.5 million metric tons a year of Saudi crude, or 50,000 barrels a day, he said.