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BPCL buys crude from every place including Russia based on viability: CMD
State-owned BPCL has said its crude procurement is based on techno-commercial viability for its refineries and it buys from every geography including Russia.
BPCL Chairman and Managing Director Sanjay Khanna said that currently preparation of Detailed Feasibility Report (DFR) is underway for the company’s proposed Greenfield Refinery and Petrochemical Complex near Ramayapatnam Port in Nellore district, Andhra Pradesh and obtaining necessary environmental clearances.
“We buy oil from every geography and the oil which is most techno-commercially viable for the refinery, not only me (BPCL), every refiner goes for it. So that is the stand, be it Russian oil or any oil for that matter. That is how we go for it. Whichever is giving us the highest value for the company ensures the reliable operations, Khanna told PTI
A senior official of the Department of Petroleum and Natural Gas replying to a query on the crude imports from Russia on Tuesday said those decisions are not taken at the country level but at respective company level.
“Companies decide what the most economical oil is and in compliance with the law,” the official told PTI.
The official further said there was no direction for the government to any crude importers whether to buy or not to buy from Russia.
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