BPCL enters into an agreement with oil giant BP. The Indian state-owned oil refining company, Bharat Petroleum Corporation Limited, has formalized the purchase of 1 million barrels of U.S. West Texas Intermediate (WTI) crude oil per month, with an expected duration of four months, starting in June of this year.
BPCL establishes 4-month supply agreement
BPCL has secured a spot contract for 2 million barrels of WTI crude oil, with loading plans set for April. This move follows a previous acquisition in February, where BPCL added 500,000 barrels.
From the beginning of the year until March 20, the company has imported imported an average of 251,000 barrels per day, with significant imports from the United Arab Emirates and Saudi Arabia accounting for this total.
BPCL, which operates refineries in Mumbai, Kochi and Bina, faces operational changes, including the scheduled shutdown of a 90,000 barrel-per-day unit in Kochi by September. This announcement comes on the heels of a temporary outage in January at one of the Mumbai refinery’s units, which has a processing capacity of 241,000 barrels per day.
Some incidents in the import of crude oil
On March 10, an incident was reported on the tanker Hafnia Seine, where it collided with a mooring buoy at the crude oil import facility of BPCL in Sikka, western India. This event could have implications for the flow of crude oil to the Bina refinery in Madhya Pradesh, central to BPCL’s 157,000 barrels per day domestic supply network.
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Source: BPCL
Photo: Shutterstock
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