India’s Bharat Petroleum Corp BPCL has bought about 3.7 million barrels crude oil from West Africa, United States and the Middle East via spot purchases this week to replace oil from Russia, trade sources said.
The refiner bought one million barrels of Angola’s Agogo crude from Eni ENI for the first time and one million barrels of U.S. Mars crude from Shell
SHEL, the people said.
It also purchased 700,000 barrels of Iraqi Ratawi crude from Chevron CVX and one million barrels of Abu Dhabi’s Upper Zakum crude from Trafigura, they added.
The spot buying comes as Indian refiners look for alternatives after pausing Russian oil imports last month due to Western sanctions on Russia’s top oil producers.