No Russia impact on crude availability, says CPCL MD Arvind Kumar

"As the economy is on the path of demand recovery post Covid, fuel consumption has also been picking up," said Kumar.

At a time when the Ukraine crisis is taking a toll on refineries due to a spike in crude oil prices, Chennai Petroleum Corporation (CPCL), a subsidiary of Indian Oil Corporation (IOC), expects the Iran sanctions to be lifted adding to the company’s profitability. The company’s Managing Director Arvind Kumar talks to Shine Jacob about the future of National Iranian Oil Company (NIOC) stake in the Chennai-based company, crude procurement strategy and its ambitious Rs 31,000-crore Nagapattinam refinery. Edited Excerpts.

Are you looking at a more diversified crude basket and what is your crude import strategy after the Ukraine crisis?