Oil prices to remain at $57-65 a barrel for some time: HPCL CMD M K Surana

Surana feels that the rise in prices is still not an indication of any structural change, it is more a reaction towards the geopolitical situation

State-run Hindustan Petroleum Corporation Ltd (HPCL) is entering a new phase, with Oil and Natural Gas Corporation (ONGC) expected to take over the firm by March-end. In an interview, HPCL Chairman and Managing Director M K Surana tells Shine Jacob & Jyoti Mukul about the recent spurt in global crude oil prices, acquisition of the Mangalore Refinery and Petrochemicals Ltd (MRPL) and the company’s expansion plans. Edited excerpts:

Crude oil prices have been volatile. How do you think they would pan out in the coming months?

In the past 7-10 days, crude oil has moved drastically. In the past