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The Economic Times

Economy / The Economic Times

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BPCL explores buying Gulf oil on FOB basis, lifts Iraqi oil

Bharat Petroleum Corp expects its first Iraqi oil cargo soon and seeks more Gulf oil. The company is willing to lift oil from inside the Strait of Hormuz. New US legislation could impact India's major Russian oil and gas purchases. Russia currently supplies a significant portion of India's oil needs. Securing crude oil will be a major challenge for Indian companies.

27 Aug 2026 5:28 pm