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Bharat Petroleum expects Russian crude purchases to decline in November

The company expects to procure higher volumes from Middle East in October and November, as the supplies from the region had become more commercially viable than Russia

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Representational Image. File pic.

Representational Image. File pic.

State-run Bharat Petroleum Corporation on Monday said it expect the  Russian crude purchases to fall in November as the higher freight costs make it expensive over the Middle Eastern grades which have become more economically viable, according to news agency PTI. 

"We are getting the full volume, but there are challenges," Director (Finance) Vetsa Ramakrishna Gupta told analysts on an earnings call. He added that Russian cargoes were "significantly reduced" for November due to the higher freight costs.

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