ReportedShipping, energy & marketsIndia
BPCL announces cuts to November Russian crude purchases as shipping costs rise
- Mountain Time
- Local time
- 8:00 PM in Kolkata
- Where
- India
BPCL finance chief Vetsa Ramakrishna Gupta told analysts that the Indian refiner would significantly reduce Russian crude purchases for November because higher freight costs and premiums make Middle Eastern grades more commercially attractive. Russian crude supplied 37% of BPCL's oil in July–September.
Why it matters
BPCL's purchasing shift directs more of its crude demand toward Middle Eastern suppliers while Persian Gulf energy flows face disruption.
Source
- OilPrice.comoilprice.comPublished
Confidence: Published by a named news organization. Not yet independently confirmed. About confidence labels