BPCL and Trafigura sign landmark crude oil supply agreement
Goa, India, 30 January 2026 – Bharat Petroleum Corporation Limited (BPCL), one of India's leading state-run refiners, and Trafigura, a market leader in the global commodities industry, today announced a new crude oil supply agreement signed during India Energy Week.
Under the agreement, Trafigura has been awarded a tender to supply Iraqi Basrah and Oman crude oil to BPCL on term basis. Delivery will begin in April 2026.
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.
Manoj Heda, Executive Director International Trade, 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.”
Sachin Gupta, CEO of Trafigura India, commented: "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."
ENDS
For further information please contact:
Trafigura’s Press Office: +41 (0) 22 592 4528 or media@trafigura.com
About Trafigura
Trafigura is a leading commodities group, owned by its employees and founded over 30 years ago. At the heart of global supply, Trafigura connects vital resources to power and build the world. We deploy 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, forming strong relationships that make supply chains more efficient, secure and sustainable. We invest in renewable energy projects and technologies to facilitate the transition to a low-carbon economy, including through MorGen Energy and joint venture Nala Renewables.
The Trafigura Group also comprises industrial assets and operating businesses including multi-metals producer Nyrstar, fuel storage and distribution company Puma Energy, the Impala Terminals joint venture and Greenergy, supplier and distributor of transportation fuels and biofuels. The Group employs approximately 14,500 people, of which over 1,400 are shareholders, and operates in over 150 countries.
Visit: www.trafigura.com