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8h agoBPCL pivots to Abu Dhabi’s Upper Zakum for December barrels amid Russia sanctions risk
Bharat Petroleum Corporation is sourcing 2 million barrels of Upper Zakum crude for December delivery via spot purchase, moving to diversify away from Russian flows exposed to fresh U.S. sanctions. The tender comes as Indian refiners reassess cargo pipelines and counterparty exposure, balancing discounts against compliance risk. BPCL typically secures a sizable portion of spot crude from Russia; guidance now points to maintaining only non-sanctioned Russian barrels while backfilling with Middle East grades. Traders noted concurrent OPEC+ signals on supply management and firmer prompt spreads, keeping India’s refining margins and product cracks in focus into year-end.
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8h agoBPCL pivots to Abu Dhabi’s Upper Zakum for December barrels amid Russia sanctions risk
Bharat Petroleum Corporation is sourcing 2 million barrels of Upper Zakum crude for December delivery via spot purchase, moving to diversify away from Russian flows exposed to fresh U.S. sanctions. The tender comes as Indian refiners reassess cargo pipelines and counterparty exposure, balancing discounts against compliance risk. BPCL typically secures a sizable portion of spot crude from Russia; guidance now points to maintaining only non-sanctioned Russian barrels while backfilling with Middle East grades. Traders noted concurrent OPEC+ signals on supply management and firmer prompt spreads, keeping India’s refining margins and product cracks in focus into year-end.
Explore:Mutual Fund Categories
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BPCL pivots to Abu Dhabi’s Upper Zakum for December barrels amid Russia sanctions risk
about 8 hours ago
1 min read
96 words
BPCL bought 2 million barrels of Upper Zakum for December, replacing risk-exposed Russian oil. Refiners are rebalancing toward Middle East barrels as sanctions tighten and OPEC+ fine-tunes supply.
Bharat Petroleum Corporation is sourcing 2 million barrels of Upper Zakum crude for December delivery via spot purchase, moving to diversify away from Russian flows exposed to fresh U.S. sanctions. The tender comes as Indian refiners reassess cargo pipelines and counterparty exposure, balancing discounts against compliance risk. BPCL typically secures a sizable portion of spot crude from Russia; guidance now points to maintaining only non-sanctioned Russian barrels while backfilling with Middle East grades. Traders noted concurrent OPEC+ signals on supply management and firmer prompt spreads, keeping India’s refining margins and product cracks in focus into year-end.
Bharat Petroleum Corporation is sourcing 2 million barrels of Upper Zakum crude for December delivery via spot purchase, moving to diversify away from Russian flows exposed to fresh U.S. sanctions. The tender comes as Indian refiners reassess cargo pipelines and counterparty exposure, balancing discounts against compliance risk. BPCL typically secures a sizable portion of spot crude from Russia; guidance now points to maintaining only non-sanctioned Russian barrels while backfilling with Middle East grades. Traders noted concurrent OPEC+ signals on supply management and firmer prompt spreads, keeping India’s refining margins and product cracks in focus into year-end.
Companies:
Bharat Petroleum (BPCL)
ADNOC
Tags:
India
BPCL
India
BPCL
UpperZakum
crude
Russia
sanctions
OPECplus
refining
Nov 3, 2025 • 04:09 IST