Bpcl Oil Industry Impact Of The Ban On Russian Oil Imports Visible On Indian Supply Not Enough Cargo For March – Amar Ujala Hindi News Live – Oil: Impact Of The Ban On Russian Oil Imports Visible On Indian Supply, Bpcl Quote

Bpcl Oil Industry Impact Of The Ban On Russian Oil Imports Visible On Indian Supply Not Enough Cargo For March – Amar Ujala Hindi News Live – Oil: Impact Of The Ban On Russian Oil Imports Visible On Indian Supply, Bpcl Quote
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Comprehensive US sanctions imposed on Russia’s oil sector have started affecting the flow of crude oil to India. Bharat Petroleum Corporation Ltd. (BPCL) said, there is not enough cargo available for March supplies. On January 10, the US had announced comprehensive sanctions targeting the Russian energy sector. The restrictions were announced at a time when India’s oil refining companies were beginning negotiations for March cargoes.

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In the last two months, Russian oil has been booked for January and February, but adequate cargo is not being found for March supplies, BPCL Director (Finance) V Ramakrishna Gupta said in a call with analysts on Thursday. He said, the share of Russian oil in crude supply may decline from 31 percent in the October-December quarter to 20 percent in the March quarter. After the start of Ukraine war, amid sanctions on Russia, Indian companies started importing Russian oil available at cheap prices on a large scale.

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