Indian state-run Bharat Petroleum Corp (BPCL) signed a deal with BP to purchase 1M barrels of US WTI crude per month for four months, starting in June.
Indian state-run oil refiner Bharat Petroleum Corp. (BPCL) has signed a deal with BP to purchase 1 million barrels of US West Texas Intermediate (WTI) crude per month for four months, starting in June. BPCL also bought 2 million barrels of WTI crude for loading in April through a spot tender. The US WTI crude meets BPCL's low-sulphur requirement and offers better economics and quality than oil from West Africa and the Mediterranean. BPCL plans to process more crude in the next fiscal year compared to the current year due to maintenance shutdowns of its refineries.
March 20, 2024
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