BPCL buys 2 million barrels of Russian Urals for May loading: Report
NEW DELHI (Reuters) – India’s Bharat Petroleum Corp Ltd has bought 2 million barrels of Russian Urals for May loading from trader Trafigura, two sources familiar with the purchase said.
Refiners in India, the world’s third biggest oil importer and consumer, have been snapping up Russian oil through spot deals since Russia’s invasion of Ukraine on Feb. 24, taking advantage of deep discounts as other buyers back away.
BPCL and Trafigura did not immediately respond to requests for comment.
The state-run refiner regularly buys Russian Urals for its 310,000 barrels per day (bpd) Kochi refinery in southern India.
