State-run Bharat Petroleum Corporation Limited (BPCL) has raised its intake of Russian crude oil to approximately 41% due to ongoing supply disruptions from the West Asia conflict, as per a senior company official. This marks an increase from 31% in the fourth quarter of FY26 and 25% in the third quarter. Vetsa Ramakrishna Gupta, Director (Finance) at BPCL, mentioned that the company has boosted spot purchases of Russian crude to address supply uncertainties stemming from Gulf shipment disruptions.
Crude supply has been secured by BPCL until July 2026, with a significant portion sourced from Russia. In an effort to enhance flexibility and reduce reliance on any single region, the company has diversified its crude basket by adding eight new grades from various regions during the year. Despite recent geopolitical tensions, BPCL has managed to maintain supply stability by processing a wide range of crude grades across its refineries.
BPCL has broadened its sourcing to include suppliers from the US, Venezuela, Brazil, and Angola. Gupta highlighted that while various grades are available in the spot market, Russian crude remains the most easily accessible option for immediate procurement. Addressing concerns regarding US restrictions on Russian oil trade, Gupta clarified that Russian crude itself is not subject to sanctions, and BPCL engages solely with non-sanctioned entities.
The company has set a capital expenditure target of Rs 25,000 crore for FY27, up from Rs 20,400 crore spent in FY26. BPCL reported a 28% increase in consolidated net profit for the fourth quarter of FY26, amounting to Rs 5,624.54 crore compared to Rs 4,391.83 crore in the previous year. Additionally, the company recorded a 6.3% rise in revenue, reaching Rs 1.35 lakh crore. Shares of BPCL traded 2.25% higher at Rs 293 on the BSE on Wednesday.
