BPCL Secures 2 Million Barrels of Upper Zakum Crude for December Amid Shift from Russian Oil

BPCL has finalized a deal to acquire 2 million barrels of Upper Zakum crude from the UAE for December delivery, according to industry sources. The purchase was made through a competitive spot tender, reflecting India’s strategic shift in sourcing crude oil amid mounting pressure from U.S. sanctions on Russian exporters.

Upper Zakum is a medium sour crude grade produced in the UAE and is considered a reliable alternative for Indian refiners. The deal is part of a broader trend where Indian oil companies, including BPCL and Indian Oil Corporation (IOC), are diversifying their supply chains by turning to non-Russian grades such as those from the U.S., Brazil, and the Middle East.

Major takeaways:

• BPCL buys 2 million barrels of Upper Zakum crude for December loading
• Purchase made via spot tender amid reduced Russian oil imports
• Upper Zakum is a medium sour crude from the UAE
• Indian refiners increasingly sourcing from non-Russian suppliers
• Part of broader strategy to ensure energy security and compliance with global sanctions

Sources: Reuters, EnergyNow, Angel One