BPCL expects Russian oil to form 35% of FY26 imports

STATE-OWNED BHARAT PETROLEUM expects its Russian crude to form 35% of its total imports for the remaining year of FY26 as long as there are no new sanctions on Russian oil, the company said in an analyst call on Thursday.

- Arunima Bharadwaj

"We are expecting again the flow (of Russian oil) should come back to normal level of 30-35%. As long as there is no new sanction on Russian oil, our procurement strategy will be 30-35% of Russian crude for the remaining year," the company said.

In the first quarter of the current fiscal year 2025-26, the company procured 34% of Russian crude. The company also informed that discounts on Russian oil have come down to the level of $1.5 per barrel. The discounts stood at $18-20/bbl at the beginning period of the Russia-Ukraine conflict.