BusinessPhoto: Hindu BusinessBPCL Shifts Crude Sourcing to Middle East as Russian Oil Loses Price Edge
Bharat Petroleum Corporation Ltd (BPCL) increased its crude oil purchases from the Middle East as Russian oil lost its price advantage and freight costs rose. In Q2, Russian crude made up 37% of BPCL's imports, with spot crude at 67%. The shift towards Middle Eastern crude became more pronounced in November, according to BPCL Finance Director Vetsa Ramakrishna Gupta. BPCL's revenues rose 29% while net profit fell 22.5% year-over-year.
Hindu Business··New Delhi



