BPCL expects Russian crude purchases to fall in November
Reported by Economic Times Industry, not nibnow. We are not the publisher of this story, only the source is.
Bharat Petroleum Corp Ltd expects its imports of Russian crude oil to decline in November because of rising freight costs. This shift highlights how logistics expenses can alter the economic viability of oil sourcing for major refiners.
Bharat Petroleum Corp Ltd forecasts a decline in Russian crude oil imports for November due to increased freight costs. The company noted that Middle Eastern oil grades appear more economically viable in comparison to Russian grades. Additionally, refinery operations may slow down in the coming quarters due to planned maintenance. Russian crude constituted about 37% of BPCL's sourcing mix in the previous quarter.
- •Future shifts in freight costs and how they impact the pricing competitiveness of Russian versus Middle Eastern crude grades.
- •The timing and extent of planned refinery maintenance operations in the coming quarters.
- •Changes in the overall percentage of Russian crude in the company sourcing mix.