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BPCL signs term contract with TotalEnergies for crude supplies from West Asia
BPCL signed a strategic contract with TotalEnergies for crude oil supply from West Asia, effective April 2025. This agreement supports BPCL's commitment to secure stable supplies and enhances its crude sourcing strategy amid challenges from sanctions on Russia.
New Delhi: State-run Bharat Petroleum Corp. Ltd (BPCL) has signed a strategic term contract with TotalEnergies Trading Asia Pte. Ltd to receive supplies of crude oil from West Asia.
In a statement, the company said that the agreement marks a key milestone in BPCL’s efforts to strengthen energy security and diversify its crude sourcing portfolio. The deal comes a day after BPCL signed a contract with Brazil's national oil company Petróleo Brasileiro S.A. (Petrobras) for supply of crude oil.
The contract with TotalEnergies Trading Asia is valid for one year from April 2025. It was signed by Manoj Heda, executive director, international trade and risk management, BPCL, and Thomas Waymel, president, trading & shipping, TotalEnergies.
G. Krishnakumar, chairman & managing director, BPCL, said: "This agreement with TotalEnergies Trading Asia shows our commitment to securing stable and cost-effective crude supplies while fostering global energy partnerships. It aligns with our strategy to diversify our crude basket, ensuring resilience and flexibility in an evolving energy landscape. We look forward to strengthening our relationship with TotalEnergies and exploring further collaboration in the future."
The company said that the agreement reflects BPCL’s proactive approach in navigating global energy markets while maintaining supply chain resilience. It also lays the foundation for broader collaboration between BPCL and the France-based TotalEnergies in the evolving global energy sector.
The term deals comes at a time when shipments from Russia, the top supplier to India, are expected to be hit due to sanctions on several Russian ships by the US.
BPCL's refineries at Mumbai, Kochi and Bina have a combined refining capacity of around 35.3 million tonnes per annum (mtpa). Its marketing infrastructure includes a network of installations, depots, fuel stations, aviation service stations and LPG distributors. Its distribution network comprises over 22,000 fuel stations, over 6,250 LPG distributorships, 525 lubes distributorships, 123 petroleum, oil, and lubricants storage locations, 54 LPG bottling plants, 63 aviation service stations, 5 lube blending plants and 4 cross-country pipelines.
Other deals signed during the ongoing India Energy Week 2025 include separate agreements between BPCL and Indian Oil Corporation with Abu Dhabi National Oil Co.
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Business NewsCompaniesBPCL signs term contract with TotalEnergies for crude supplies from West Asia
First Published:13 Feb 2025, 08:47 PM IST
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