Latest news with #BharatPetroleum
Zawya
08-07-2025
- Business
- Zawya
India aims to import about 10% of its cooking gas from US from 2026, say sources
NEW DELHI - India plans to source about 10% of its cooking gas imports from the U.S. beginning in 2026 as part of a broader effort to boost energy purchases to narrow its trade gap with Washington, four industry refining sources familiar with the matter said. The world's third biggest oil importer and consumer relies heavily on Middle Eastern producers of liquefied petroleum gas (LPG), with more than 90% of its roughly 20.5 million metric tons of imports in 2024 coming from the region. LPG is a mix of propane and butane used for cooking fuel and is mainly imported by state retailers Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp and sold at a subsidised price to households. India had rarely bought U.S. LPG in the past due to higher freight costs, but state retailers began buying U.S. LPG in May after China imposed retaliatory import tariffs on U.S. propane. India plans to eliminate import tax on U.S. propane and butane used for making LPG, sources previously told Reuters. India has pledged to increase U.S. energy purchases by $10 billion to $25 billion in the near future and the two nations in February agreed to target $500 billion in bilateral trade by 2030. India's import of U.S. oil has more than doubled this year, data obtained from sources showed. "We are looking to the U.S. as a reliable alternative source of both crude and LPG. We need to diversify our sources of LPG," said one of the sources who declined to be named because he was not authorised to speak to media. India has been diversifying its crude oil suppliers to reduce geopolitical risks and support its growing refining capacity. However, its LPG suppliers remain concentrated in the Middle East, typically purchased on a free-on-board (FOB) basis. Chinese import tariffs on U.S. propane, currently at 10%, have opened up arbitrage opportunities for Indian buyers, further incentivising a shift toward U.S. cargoes, a second source said. "We would prefer to import from the U.S. on a delivered basis to mitigate freight risks — similar to how we already buy U.S. crude," he said. Indian state refiners are seeing annual LPG demand growth of about 5% to 6%, with total imports projected to rise to 22 million tonnes to 23 million tonnes by 2026, two of the sources said. India's oil ministry and the three state fuel retailers did not immediately respond to requests for comment. Pricing will be key to determining the exact volume of U.S. LPG imports, a third industry source said. The International Energy Agency expects India's LPG demand to grow at an average of 2.5% between 2024 and 2030, reaching 1.2 million barrels per day, or roughly 37.7 million tonnes. (Reporting by Nidhi Verma; Editing by Tony Munroe and Kate Mayberry)
Reuters
08-07-2025
- Business
- Reuters
Exclusive: India aims to import about 10% of its cooking gas from US from 2026, say sources
NEW DELHI, July 8 (Reuters) - India plans to source about 10% of its cooking gas imports from the U.S. beginning in 2026 as part of a broader effort to boost energy purchases to narrow its trade gap with Washington, four industry refining sources familiar with the matter said. The world's third biggest oil importer and consumer relies heavily on Middle Eastern producers of liquefied petroleum gas (LPG), with more than 90% of its roughly 20.5 million metric tons of imports in 2024 coming from the region. LPG is a mix of propane and butane used for cooking fuel and is mainly imported by state retailers Indian Oil Corp ( opens new tab, Bharat Petroleum Corp ( opens new tab and Hindustan Petroleum Corp ( opens new tab and sold at a subsidised price to households. India had rarely bought U.S. LPG in the past due to higher freight costs, but state retailers began buying U.S. LPG in May after China imposed retaliatory import tariffs on U.S. propane. India plans to eliminate import tax on U.S. propane and butane used for making LPG, sources previously told Reuters. India has pledged to increase U.S. energy purchases by $10 billion to $25 billion in the near future and the two nations in February agreed to target $500 billion in bilateral trade by 2030. India's import of U.S. oil has more than doubled this year, data obtained from sources showed. "We are looking to the U.S. as a reliable alternative source of both crude and LPG. We need to diversify our sources of LPG," said one of the sources who declined to be named because he was not authorised to speak to media. India has been diversifying its crude oil suppliers to reduce geopolitical risks and support its growing refining capacity. However, its LPG suppliers remain concentrated in the Middle East, typically purchased on a free-on-board (FOB) basis. Chinese import tariffs on U.S. propane, currently at 10%, have opened up arbitrage opportunities for Indian buyers, further incentivising a shift toward U.S. cargoes, a second source said. "We would prefer to import from the U.S. on a delivered basis to mitigate freight risks — similar to how we already buy U.S. crude," he said. Indian state refiners are seeing annual LPG demand growth of about 5% to 6%, with total imports projected to rise to 22 million tonnes to 23 million tonnes by 2026, two of the sources said. India's oil ministry and the three state fuel retailers did not immediately respond to requests for comment. Pricing will be key to determining the exact volume of U.S. LPG imports, a third industry source said. The International Energy Agency expects India's LPG demand to grow at an average of 2.5% between 2024 and 2030, reaching 1.2 million barrels per day, or roughly 37.7 million tonnes.
Yahoo
08-07-2025
- Business
- Yahoo
Exclusive-India aims to import about 10% of its cooking gas from US from 2026, say sources
By Nidhi Verma NEW DELHI (Reuters) -India plans to source about 10% of its cooking gas imports from the U.S. beginning in 2026 as part of a broader effort to boost energy purchases to narrow its trade gap with Washington, four industry refining sources familiar with the matter said. The world's third biggest oil importer and consumer relies heavily on Middle Eastern producers of liquefied petroleum gas (LPG), with more than 90% of its roughly 20.5 million metric tons of imports in 2024 coming from the region. LPG is a mix of propane and butane used for cooking fuel and is mainly imported by state retailers Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp and sold at a subsidised price to households. India had rarely bought U.S. LPG in the past due to higher freight costs, but state retailers began buying U.S. LPG in May after China imposed retaliatory import tariffs on U.S. propane. India plans to eliminate import tax on U.S. propane and butane used for making LPG, sources previously told Reuters. India has pledged to increase U.S. energy purchases by $10 billion to $25 billion in the near future and the two nations in February agreed to target $500 billion in bilateral trade by 2030. India's import of U.S. oil has more than doubled this year, data obtained from sources showed. "We are looking to the U.S. as a reliable alternative source of both crude and LPG. We need to diversify our sources of LPG," said one of the sources who declined to be named because he was not authorised to speak to media. India has been diversifying its crude oil suppliers to reduce geopolitical risks and support its growing refining capacity. However, its LPG suppliers remain concentrated in the Middle East, typically purchased on a free-on-board (FOB) basis. Chinese import tariffs on U.S. propane, currently at 10%, have opened up arbitrage opportunities for Indian buyers, further incentivising a shift toward U.S. cargoes, a second source said. "We would prefer to import from the U.S. on a delivered basis to mitigate freight risks — similar to how we already buy U.S. crude," he said. Indian state refiners are seeing annual LPG demand growth of about 5% to 6%, with total imports projected to rise to 22 million tonnes to 23 million tonnes by 2026, two of the sources said. India's oil ministry and the three state fuel retailers did not immediately respond to requests for comment. Pricing will be key to determining the exact volume of U.S. LPG imports, a third industry source said. The International Energy Agency expects India's LPG demand to grow at an average of 2.5% between 2024 and 2030, reaching 1.2 million barrels per day, or roughly 37.7 million tonnes.
Hans India
06-07-2025
- Business
- Hans India
India has never seen shortage of fuels: Hardeep Puri
Highlighting the government's achievements in the oil and gas sector, Petroleum and Natural Gas Minister Hardeep Singh Puri on Sunday said that "whether it was the period of the global Covid pandemic or global conflict, there has never been a shortage of petroleum products in India". "This has been possible due to the foresight of Prime Minister Narendra Modi," he remarked. He was referring to the geopolitical tensions in the Middle East, which peaked during the Israeli attack on Iran, during which shipping was disrupted and there were threats of closure of the Strait of Hormuz through which 20 per cent of the world's oil and gas exports are shipped out from the Gulf region. "Under the leadership of Prime Minister Narendra Modi, we have diversified our supplies in the past few years, and a large volume of our supplies do not come through the Strait of Hormuz now," the minister had stated earlier. India imports around 85 per cent of its crude oil requirement, and a surge in oil prices leads to an increase in its oil import bill and pushes up the rate of inflation, which hurts economic growth. However, it has diversified its oil sources by increasing imports from Russia as well as the US and building resilience through strategic reserves. Highlighting the infrastructure milestones in the oil and gas sector, Puri said that the country now has 23 modern operational refineries with a total capacity of 257 million metric tonnes per annum to produce petroleum products. The minister also highlighted the ministry's initiative in setting up storage facilities for strategic petroleum reserves, on which the country can fall back in times of emergency and which assume importance during times of geopolitical uncertainty. The storage capacity includes 2.25 million metric tonnes (MMT) at Pudur, the Visakhapatnam facility has the capacity to store 1.33 MMT of crude oil, while Mangalore has a storage capacity of 1.5 MMT. The Minister also underscored that India has achieved the target of 20 per cent ethanol blending with petrol ahead of schedule as part of the country's drive to push green fuels. E20 ethanol-blended petrol is now being made available to fuel vehicles at all the retail outlets of the public sector companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum - nationwide. The minister stated that India has achieved the target of 20 per cent ethanol blending in petrol in early 2025, which is six years ahead of the original deadline of 2030, reflecting the strong progress in the country's journey towards cleaner fuels. "This achievement not only reduces the country's carbon emissions but also saves huge amounts of money. In the process, we have saved Rs 1 lakh crore upwards. Rs 1.5 lakh crore of foreign exchange because of the import bill, and we have given that to our farmers," the minister said recently.
The Wire
04-07-2025
- Business
- The Wire
BPCL's Premium Petrol Speed Fuels Neeraj Chopra Classic 2025
BENGALURU, India, July 4, 2025 /PRNewswire/ -- Bharat Petroleum Corporation Limited (BPCL) is proud to be the 'Accelerated by Speed' sponsor of the Neeraj Chopra Classic 2025, a landmark moment for Indian athletics. This is the first time India is hosting a World Athletics Continental Tour – Gold level javelin competition on home soil. The event is set for July 5, 2025, at the iconic Kanteerava Stadium, Bengaluru. This isn't just another competition—it's a bold declaration that India is ready to shine on the global track and field stage. The Neeraj Chopra Classic 2025 brings together an elite field of international athletes, including Olympic medalists Julius Yego, and Thomas Röhler, making it one of the most star-studded javelin events ever held in India. "Neeraj Chopra has been associated with BPCL as the brand ambassador for our premium petrol, Speed, which symbolizes high-performance, efficiency and reliability. We take immense pride in supporting his extraordinary journey—from a world-class athlete to a global icon. The Neeraj Chopra Classic is not just a sporting event, but a symbol of India's athletic aspirations taking flight," said Mr. Pardeep Goyal, Business Head (Retail), BPCL. "We congratulate Neeraj for his vision and leadership, which is reshaping India's sporting narrative and placing Indian athletics on the world map." As athletes from across the globe converge in Bengaluru, BPCL extends a warm welcome to all participants and wishes them success. With a sporting legacy dating back to 1987, BPCL has nurtured over 200 athletes, provided advanced training support, and recently launched a national sports scholarship program. With Neeraj leading the charge, this event is more than a contest—it's a moment of national pride and global recognition for Indian athletics. About Bharat Petroleum Corporation Ltd. (BPCL): Fortune Global 500 Company, Bharat Petroleum is the second largest Indian Oil Marketing Company and one of the integrated energy companies in India, engaged in refining of crude oil and marketing of petroleum products, with presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted Maharatna status, joining the club of companies having greater operational & financial autonomy. Bharat Petroleum's Refineries at Mumbai, Kochi and Bina have a combined refining capacity of around 35.3 MMTPA. Its marketing infrastructure includes a network of installations, depots, fuel stations, aviation service stations and LPG distributors. Its distribution network comprises over 23,500 Fuel Stations, over 6,200 LPG distributorships, 500 Lubes distributorships, 80 POL storage locations, 54 LPG Bottling Plants, 79 Aviation Service Stations, 5 Lube blending plants and 5 cross-country pipelines. Bharat Petroleum is integrating its strategy, investments, environmental and social ambitions to move towards a sustainable planet. The company has Electric vehicle charging stations at 6500 Fuel Stations. With a focus on sustainable solutions, the company is developing an ecosystem and a road-map to become a Net Zero Energy Company by 2040, in Scope 1 and Scope 2 emissions. Bharat Petroleum has been partnering communities by supporting several initiatives connected primarily in the areas of education, water conservation, skill development, health, community development, capacity building and employee volunteering. With 'Energising Lives' as its core purpose, Bharat Petroleum's vision is to be an admired global energy company leveraging talent, innovation & technology. (Disclaimer: The above press release comes to you under an arrangement with PRNewswire and PTI takes no editorial responsibility for the same.).
