BPCL Explores New Crude Sources Amid Russian Oil Uncertainty

BPCL is exploring new crude sources due to uncertainty around Russian oil supplies and tensions in the Strait of Hormuz, according to BPCL Chairman and Managing Director Sanjay Khanna. The company currently procures a significant share of its crude from Russia, which makes any disruption to these supplies a major challenge.

'Today, all the companies are procuring in the range of 35 to 45 per cent Russian oil,' Khanna said during BPCL's Post AGM Virtual Press Conference. 'Definitely it will be a huge challenge for oil companies to get the crude and cater to the national demand.'

The uncertainty is fueled by the US Senate passing the Russia Sanctions Bill, which could impose tariffs of up to 100 per cent on countries that purchase Russian crude oil and natural gas.