Russian crude imports increase to 41 pc, supply secured till July: BPCL

New Delhi: State-run Bharat Petroleum Corporation Limited (BPCL) has increased its intake of Russian crude oil to around 41 per cent amid ongoing supply disruptions from the West Asia conflict, a senior company official said on Wednesday.

Russian crude now accounts for about 40–41 per cent of total imports, up from 31 per cent in the fourth quarter of FY26 and 25 per cent in the third quarter, said Vetsa Ramakrishna Gupta, Director (Finance), BPCL.

Gupta said the company has stepped up spot purchases of Russian crude to manage supply uncertainties arising from disruptions in Gulf shipments.

He added that crude supply has been secured till July 2026, with a significant portion sourced from Russia.

The company has also expanded its crude basket during the year by adding eight new grades from multiple regions to improve flexibility and reduce dependence on any single geography.

BPCL has been able to maintain supply stability even during recent geopolitical tensions, supported by its ability to process a wide range of crude grades across its refineries, he said.

The PSU has further diversified sourcing to include suppliers from the US, Venezuela, Brazil and Angola. Gupta noted that while several grades are available in the spot market, Russian crude remains the most readily available option for immediate procurement.

On concerns related to US restrictions on Russian oil trade, Gupta clarified that Russian crude itself is not under sanctions and that BPCL only deals with non-sanctioned entities.

Meanwhile, the company has set a capital expenditure target of Rs 25,000 crore for FY27, compared with Rs 20,400 crore spent in FY26.

BPCL reported a 28 per cent rise in consolidated net profit for the fourth quarter of FY26 at Rs 5,624.54 crore against Rs 4,391.83 crore in the year-ago period.

The company has posted a 6.3 per cent rise in revenue to Rs 1.35 lakh crore.

Shares of BPCL traded 2.25 per cent higher at Rs 293 on the BSE on Wednesday.

IANS