BPCL, HPCL jointly exporting refined petroleum products to cut costs

Are exploring similar mechanism for crude oil purchases

Bharat Petroleum Corp and Hindustan Petroleum Corp have started exporting refined products jointly to cut costs and are exploring a similar mechanism for crude oil purchases, a BPCL executive said on Friday.

The two state-owned refiners jointly exported naphtha about a month ago and have started talks to procure crude, BPCL's refinery head B K Datta told reporters.

"It will improve our bargaining power and we will save in terms of freight, logistics, size of parcel etc," he said, but did not specify savings.