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BPCL expects Russian crude to form 35% of imports for FY26
State-owned Bharat Petroleum Corp expects its Russian crude to form 35% of its total imports for the remaining year of FY26 as long as there are no new sanctions on Russian oil, the company said in an analyst call.
“We are expecting again the flow (of Russian oil) should come back to normal level of 30-35%. As long as there is no new sanction on Russian oil, our procurement strategy will be 30-35% of Russian crude for the remaining year,” the company said.
In the first quarter of the current fiscal year 2025-26, the company procured 34% of Russian crude. The company also informed that discounts on Russian oil have come down to the level of $1.5 per barrel. The discounts stood at $18-20/bbl at the beginning period of the Russia-Ukraine conflict.
“This quarter our Russian crude procurement is about 34%. In terms of inventory levels, we have kept a little bit more inventory in the months of March and April because of geopolitical issues. Our inventory levels during March 2025 was 2.9 million tonnes whereas generally we keep 2.3-2.4 MMT,” the company said.
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