What discount is BPCL seeking for Venezuelan crude?

BPCL is seeking discounts in the range of $10-12 per barrel for Venezuelan crude.

Can BPCL's refineries process Venezuelan crude?

Yes, BPCL's upgraded Kochi and Bina refineries, as well as the upcoming Andhra Pradesh refinery, can process the heavy and acidic nature of Venezuelan crude.

Has BPCL purchased Venezuelan crude before?

This would mark BPCL's first-ever purchase of Venezuelan crude, although other Indian refiners previously bought it before US sanctions were imposed.

Home / Business and Economy / BPCL Seeks Big Discounts for Venezuelan Crude

BPCL Seeks Big Discounts for Venezuelan Crude

30 Jan

•

Summary

BPCL seeks $10-12 per barrel discount for Venezuelan crude.
This marks potential first-ever purchase of Venezuelan crude by BPCL.
BPCL's upgraded refineries can now process heavier crude.

BPCL Seeks Big Discounts for Venezuelan Crude

Bharat Petroleum Corporation (BPCL) is seeking discounts between $10 and $12 per barrel for Venezuelan crude oil, a move that would signify its initial purchase of this specific resource. The company's upgraded Kochi and Bina refineries, along with the upcoming Andhra Pradesh facility, possess the capability to process the challenging heavy and acidic nature of Venezuelan crude. Historically, Indian refiners like Reliance Industries and Nayara Energy were prior buyers before US sanctions. Other state-run companies, including HPCL and Indian Oil, have also confirmed their ability to process Venezuelan crude by blending it with lighter grades. In a separate development on January 30, 2026, BPCL finalized a significant crude oil supply agreement with Trafigura for Iraqi Basrah and Omani crude, commencing April 2026.

Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.