BPCL, Trafigura Sign Term Crude Oil Supply Deal at India Energy Week

SEATTLE (Oil Monster): Bharat Petroleum Corporation Limited (BPCL) and global commodities major Trafigura have announced a new crude oil supply agreement, signed during India Energy Week, marking a significant development in India’s energy procurement strategy.

Under the deal, Trafigura has secured a tender to supply Iraqi Basrah and Oman crude oil to BPCL on a term basis, with deliveries scheduled to begin in April 2026.

The agreement represents BPCL’s first-ever term contract for Basrah crude imports, strengthening its diversified sourcing strategy and supporting India’s long-term energy security. BPCL Executive Director (International Trade) Manoj Heda said the competitively priced contract enhances procurement efficiency while ensuring reliable crude supply to meet the country’s rising energy needs.

Trafigura India CEO Sachin Gupta noted that the company’s global sourcing capabilities and integrated supply chain enable it to support BPCL’s refining requirements and India’s expanding consumer base. The deal also reinforces Trafigura’s growing role in supplying energy resources to India.

Indian Oil Corporation (IOC) recently signed a five-year LNG import deal with Trafigura, while projecting diesel demand growth of 2–3% and gasoline demand growth of 5–6% by 2030, underscoring strong long-term energy consumption trends.

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