Goldman Sachs SELL

India Energy HPCL BPCL Tough 1Q

Jul 24, 2026

From the report报告摘录HPCL/BPCL Q1 Earnings Divergence: Mixed results driven by Russian crude mix (38% for BPCL), inventory losses (HPCL), and Vizag issues; BPCL beat via stronger refining margins.

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