New Delhi: Bharat Petroleum Corp. Ltd (BPCL), a state-run entity, has entered into a strategic term contract with TotalEnergies Trading Asia Pte. Ltd for the supply of crude oil from West Asia. The company announced that this agreement is a significant step in BPCL’s initiative to enhance energy security and diversify its crude sourcing strategy. This deal follows BPCL’s recent contract with Brazil’s national oil company, Petróleo Brasileiro S.A. (Petrobras), for crude oil supply.
The contract with TotalEnergies Trading Asia is set to be effective for one year starting April 2025. It was signed by Manoj Heda, executive director of international trade and risk management at BPCL, and Thomas Waymel, president of trading & shipping at TotalEnergies. G. Krishnakumar, chairman and managing director of BPCL, emphasized that this agreement underscores their commitment to securing stable and cost-effective crude supplies while building global energy partnerships. He noted that it aligns with BPCL’s strategy to diversify its crude portfolio, ensuring resilience and adaptability in a changing energy landscape. Krishnakumar expressed optimism about strengthening the relationship with TotalEnergies and exploring further collaboration.
The agreement illustrates BPCL’s proactive stance in navigating global energy markets while ensuring supply chain resilience. It also sets the stage for broader collaboration between BPCL and France-based TotalEnergies in the dynamic global energy sector. This contract comes at a time when shipments from Russia, India’s primary supplier, are anticipated to be affected by U.S. sanctions on several Russian vessels.
BPCL operates refineries in Mumbai, Kochi, and Bina, with a total refining capacity of approximately 35.3 million tonnes per annum (mtpa). Its marketing infrastructure includes a comprehensive network of installations, depots, fuel stations, aviation service stations, and LPG distributors, comprising over 22,000 fuel stations, more than 6,250 LPG distributorships, and various other facilities.
During the ongoing India Energy Week 2025, BPCL has also signed separate agreements with Indian Oil Corporation and Abu Dhabi National Oil Co., further enhancing its strategic partnerships in the energy sector.