BPCL Purchases 10 Million Barrels of US Oil Over 5 Month Tender

Bharat Petroleum Corp (BPCL), a major Indian oil company, has given a 5-month contract to the European trading firm Glencore to supply 10 million barrels of U.S. crude oil, as per Reuters. This deal helps BPCL diversify its sources of crude oil and supports its long-term strategy for energy diversification.

Doubling Oil Imports Under New Agreement

As per the reports, under the agreement, Glencore will provide Bharat Petroleum Corporation Limited (BPCL) with 2 million barrels of WTI Midland crude monthly, from November through March. This is double the amount BPCL was importing previously, signalling the company's focus on securing a steady oil supply.

Growing Focus on Energy Diversification

As per news reports, Indian oil refineries are buying more oil from the United States. This is because the spot markets are on improved arbitrage economics of sending U.S. oil across the Atlantic to Asia. 

As per reports, looking ahead to 2026, these refineries also intend to increase their imports of cooking gas from the U.S.

Read More: BPCL Q1 FY26 Earnings Results: Profit Surges 141% YoY to ₹6,839 Crore; Revenue Growth Flat!

BPCL Share Price Performance 

As of August 14, 2025, BPCL share price closed at ₹318.40 per share, reflecting a decline of 1.27%. Over the past month, the stock has declined by 8.52%.

Conclusion

By partnering with Glencore for a significant U.S. crude supply contract, BPCL is taking a proactive step toward diversifying its energy basket and enhancing supply stability. The deal underscores the company’s focus on long-term sourcing strategies in a competitive global market.

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