Bharat Petroleum Says It Is Reviewing Oil Imports Daily Amid Surge In Spot Buying Due To Iran Crisis

Key points

• Bharat Petroleum Says It Is Reviewing Oil Imports Daily Amid Surge In Spot Buying Due To Iran Crisis Published By, Last Updated: May 19, 2026, 22:30 IST Bharat Petroleum Chairman Sanjay Khanna said force majeure declarations by some Gulf suppliers have pushed the refiner to increase spot buying.
• Rapid Read Bharat Petroleum (File Image) Bharat Petroleum Corporation’s chairman, Sanjay Khanna, on Tuesday said the refiner is reviewing its crude import strategy on an almost daily basis and ramping up spot purchases as the US war with Iran disrupted global energy supplies.
• Khanna told Reuters that BPCL had planned to source about 55% of its crude requirement for 2026-27 through annual contracts, particularly from producers in West Asia, while the rest 45% would come through spot markets.
• However, force majeure declarations by some Gulf suppliers have pushed BPCL to increase spot buying to keep refineries running at 115% capacity.
• “Definitely, our...