BPCL looking at buying rare grades of crude oil at cheaper rates

MUMBAI: State-run fuel retailer BPCLNSE -1.40 % is looking at buying rare grades of crude oil at cheaper rates as the epidemic in China has hurt refiners in the northern neighbor and reduced their purchases. Still, the company is treading carefully as it faces risks by way of inventory losses.

“The Corona virus has disrupted crude oil prices and China has rejected a lot of crude oil in the last 3-4 months, and there is a significant availability of crude,” said R. Ramachandran, head of refineries at the motor-fuel company. “Some of the crude oil categories that we didn’t find attractive earlier are appearing to be attractive now.”