FCC

BPCL to Issue Tender for 1 MBD Crude Oil Import from the US

2025-03-10

Bharat Petroleum Corporation (BPCL) plans to issue a four-month tender next week to procure one million barrels of US West Texas Intermediate (WTI) crude oil each month. The initiative is aimed at securing cost-effective crude from the world's leading oil producer. Deliveries under the tender are expected to commence in May or June 2025.

BPCL has previously sourced oil from the US, having awarded a similar tender to a European energy company last year. The corporation regularly imports US crude to supply its three refineries, which have a combined processing capacity of 706,000 barrels per day.

India's crude imports from the US have been on the rise, reaching their highest level in over two years. The increase is attributed to Indian refiners diversifying their sources in response to tighter US sanctions on Russian producers and shipping firms. By securing long-term crude supplies from the US, BPCL aims to enhance supply stability and cost efficiency amid evolving global market conditions.

News source: The New Indian Express