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India’s BPCL to issue spot-crude tender as replacement for Russian oil
BPCL to issue spot-crude tender as replacement for Russian oil amid U.
Bharat Petroleum Corporation Ltd (BPCL) plans to issue a spot-crude oil tender to replace Russian supplies, as refiners reconsider reliance on Moscow amid U.S. sanction risks. The move may accelerate diversification to West African and Middle East grades. BPCL’s procurement team said the tender will seek delivery from December, and risk-premium traders noted freight and blending costs could rise. Refiners may face higher input costs and margin pressure if cheaper Russian Grades are replaced by costlier alternatives.