BPCL expects to get lower discounts on Russian oil


NEW DELHI: Bharat Petroleum sees discounts on Russian crude shrinking to $3-6 per barrel in opposition to $8-10 final 12 months, amid range-bound international oil costs, however will proceed to import “significant” volumes, the corporate brass instructed traders on Friday.
“Our expectation is that global supply and demand will be relatively balanced and the prices would be in the range of $83-87.The factors that could impact prices is largely related to unplanned production disruptions, a risk highlighted by the recent tensions in West Asia,” chairman G Krishnakumar mentioned in his opening remarks on the traders name.
Picking up the thread, firm’s director finance V R Ok Gupta mentioned the discounts on Russian crude are anticipated to come down due to moderating demand-supply scenario. “Last year, there was an over-supply. But now demand-supply dynamics is in moderate zone. So we are expecting moderate discounts, not aggressive.” Russian shipments made up roughly 39% of crude processed by BPCL in 2023-24.

Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.


Please enter your comment!
Please enter your name here

Share post:



More like this

Hiranandani Upscale School Hosts ‘The Biennale’

From fascinating dance performances to enchanting folks songs,...

Former Pakistan PM Nawaz Sharif elected unopposed as PML-N president after 6 years

The three-time former PM had misplaced his publish...

Reliance to buy Russian oil in roubles, sources say

NEW DELHI: Reliance Industries, operator of the world's...