State-run Bharat Petroleum Corporation (BPCL) has signed a crude oil supply agreement with Trafigura to supply Iraqi Basrah and Oman crude oil to the oil marketing company (OMC) on term basis.
Under the agreement, which was signed at the India Energy Week 2026 in Goa, the delivery for the cargoes will commence in April this year, Trafigura said.
This marks the first agreement of its kind for BPCL for imports of Basrah crude, representing a strategic milestone in the company’s procurement approach and strengthening India’s energy security framework.
Sachin Gupta, CEO of Trafigura India, said: “We are delighted to be supplying BPCL in this new agreement. Trafigura’s expertise, global reach and extensive supply chain capabilities allow us to source the crude oil BPCL needs for its refining requirements and growing consumer base in India. The agreement supports Trafigura’s growing role in supplying natural resources to India to support ongoing economic growth and increasing energy demand.”
Manoj Heda, Executive Director International Trade at BPCL, said: “This competitively priced term contract strengthens our crude oil procurement strategy and enhances India’s energy security. By leveraging market opportunities, we ensure a reliable and cost-effective supply of crude oil for our refining system, which is crucial to meeting the nation’s growing energy demands.”
Trafigura is a leading commodities group, owned by its employees and founded over 30 years ago. It deploys infrastructure, market expertise and our worldwide logistics network to move oil and petroleum products, metals and minerals, gas and power from where they are produced to where they are needed.
The Group comprises industrial assets and operating businesses, including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, the Impala Terminals joint venture and Green energy, supplier and distributor of transportation fuels and biofuels. It employs around 14,500 people, of which over 1,400 are shareholders, and operate in over 150 countries.
Published on January 30, 2026
