BPCL Boosts Russian Crude Share To 41% As West Asia Tensions Cloud Gulf Supplies

State-run Bharat Petroleum Corporation Limited (BPCL) has significantly increased its reliance on Russian crude oil as geopolitical tensions in West Asia continue to cloud global supply conditions.

Russian crude now accounts for around 40 to 41% of BPCL's total crude imports, up sharply from 31% in Q4 FY26 and 25% in Q3 FY26. The company said it stepped up spot purchases of Russian oil to manage uncertainty in Gulf supplies. BPCL shares were up around 2.25% at ₹293 on the Bombay Stock Exchange yesterday after the updates.

The stock continued to gain today as well. At 1:08 PM, it was trading at ₹296.55, up 0.95%.

Supply Locked In Till July

BPCL has already secured crude oil supplies through July 2026, with a large portion expected to come from Russia. The company's finance director said Russian crude remains the most readily available option for quick purchases in the spot market.

BPCL has also clarified that it only deals with non-sanctioned entities and that Russian crude itself is not under sanctions.

Expanding The Sourcing Basket

BPCL has also been actively working to expand the diversity of its crude sourcing away from Russia to reduce dependence on any one region. During the year, the company added eight new crude grades from different parts of the world to its sourcing mix. Sourcing has also been carried out from the US, Venezuela, Brazil and Angola.

BPCL’s refineries are configured to process a variety of crude types, giving the company the flexibility to change sourcing as market conditions change and supporting the stability of supply during periods of geopolitical stress.

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BPCL Plans Higher FY27 Capex After Strong Q4 Performance

BPCL has set a capex target of ₹25,000 crore for FY27, up from around ₹20,400 crore spent in FY26. The investment will go towards refining capacity, fuel infrastructure and energy projects as the company continues to grow its operations.

The company also reported a strong Q4 FY26. Consolidated net profit rose 28% year-on-year to ₹5,624.54 crore, compared to ₹4,391.83 crore in the same quarter last year. Revenue increased 6.3% to around ₹1.35 lakh crore during the quarter.

Sources:

Moneycontrol

Free Press Journal