Mumbai: State-run Bharat Petroleum Corporation Limited (BPCL) has increased its imports of Russian crude oil as global supply concerns continue due to tensions in West Asia.
According to company officials, Russian crude now makes up around 40–41 percent of BPCL’s total crude imports.
This is higher than 31 percent in the fourth quarter of FY26 and 25 percent in the third quarter.
The company said it increased spot purchases of Russian oil to manage uncertainty in Gulf supplies.
Supply Secured Till July
BPCL Director (Finance) Vetsa Ramakrishna Gupta said the company has already secured crude oil supplies till July 2026.
A large part of these supplies will come from Russia.
The company also expanded its crude sourcing basket by adding eight new crude grades from different regions during the year.
This move is aimed at reducing dependence on any single country or region.
Focus On Supply Stability
BPCL said its refineries can process different types of crude oil, helping the company maintain supply stability during geopolitical tensions.
Apart from Russia, the company has also sourced crude from the US, Venezuela, Brazil and Angola.
However, Gupta said Russian crude continues to be the most easily available option for quick purchases in the spot market.
He also clarified that BPCL only deals with non-sanctioned entities and Russian crude itself is not under sanctions.
Company Plans Higher Investment
BPCL has announced a capital expenditure target of Rs 25,000 crore for FY27.
In FY26, the company spent around Rs 20,400 crore on expansion and business activities.
The company plans to continue investing in refining, fuel infrastructure and energy projects.
Q4 Profit Rises 28 percent
BPCL also reported strong quarterly earnings.
The company posted a 28 percent rise in consolidated net profit for Q4 FY26 at Rs 5,624.54 crore compared to Rs 4,391.83 crore in the same period last year.
Revenue increased 6.3 percent to around Rs 1.35 lakh crore.
Following the updates, BPCL shares traded around 2.25 percent higher at Rs 293 on the BSE.
