BPCL Diversifies Crude Portfolio with First-Time Buys from Angola and Ghana, Eyes U.S. LPG Imports

Image Source: Telegraph India

Bharat Petroleum Corporation Ltd (BPCL) has taken a strategic leap in crude sourcing by purchasing Angola’s Saxi oil and Ghana’s Sankofa crude for the first time. The move reflects BPCL’s intent to diversify its supply base amid shifting global trade dynamics and sanctions-related disruptions. Additionally, the company is evaluating the commercial viability of importing liquefied petroleum gas (LPG) from the United States.

Key Highlights:

BPCL acquired 1 million barrels of Ghana’s low-sulphur Sankofa crude for March loading via spot tender, marking its debut purchase from the West African nation.
The company also added Angola’s Saxi blend to its import basket, expanding its footprint in African crude markets known for lighter grades and favorable refining yields.
These purchases come as Indian refiners seek alternatives to Russian oil, which has faced tighter U.S. sanctions and shipping constraints.
BPCL has already secured a 12-month deal to import 1 million barrels per month of Abu Dhabi’s Murban crude from TotalEnergies starting April.

Strategic Outlook:

The inclusion of Sankofa and Saxi grades enhances BPCL’s refining flexibility and reduces overdependence on Middle Eastern and Russian supplies.
BPCL’s chairman stated that the company will consider importing LPG from the U.S. if pricing and logistics prove commercially viable, signaling openness to transatlantic energy trade.
These moves align with India’s broader energy security goals and BPCL’s strategy to optimize its crude slate amid volatile global markets.

Sources: Economic Times, Financial Express, BPCL Corporate Filings.