BPCL Ramps Up Spot Oil Buying Amid Middle East Conflict
Bharat Petroleum is reviewing its import strategy daily and increasing spot purchases to maintain refinery operations at 115% capacity. The state-run refiner faces supply disruptions from the Strait of Hormuz closure and is incurring losses on fuel sales despite recent domestic price hikes.
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BHARAT PETROLEUM CORP LTD is increasing spot market purchases to maintain 115% refinery capacity as conflict disrupts Middle Eastern crude supplies. India, the world's third-largest oil importer and consumer, has raised retail petrol and diesel prices twice in one week. Supply volatility and narrowing Russian discounts are squeezing margins as the refiner recalibrates import strategies daily.
