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BPCL to import 1 m barrels of Iran crude in February and March

15 Jan 2019 | bpclnews

India’s second largest refiner by capacity, Bharat Petroleum Corporation Ltd (BPCL), plans to import 1 million barrels of Iranian oil in both February and March after a gap of three months, said R Ramachandran, director refineries of BPCL.

The company believes Iranian oil is the best oil to source at present given the freight, insurance and delivery benefits they provide. “It gives us a benefit of 60-70 cents per barrel. For any competitor they will have to first match them before they can make any inroads,” Ramachandran said.