{
  "id": 16599337,
  "title": "BPCL expects Russian crude purchases to fall in November as freight costs rise",
  "url": "https://urgent.news/2026/10/26/bpcl-expects-russian-crude-purchases-to-fall-in-november-as-freight",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-26T11:51:44.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/markets/commodities/bpcl-expects-russian-crude-purchases-to-fall-in-november-as-freight-costs-rise/article71626576.ece"
  },
  "original_language": "en",
  "account": "BPCL anticipates a decline in Russian crude purchases for November due to escalating freight costs, which are diminishing the price advantage of Russian crude. In contrast, Middle Eastern crude grades have become more commercially viable, according to a senior BPCL executive who discussed the matter during an earnings call. Despite Russian crude shipments being significantly reduced in November, the company has maintained sufficient crude to sustain refinery operations. Russian crude prices have narrowed from a premium of USD 12-13 per barrel in October to about USD 1-2. Middle Eastern crude supplies have increased, making them more commercially viable compared to Russian supplies. BPCL expects higher volumes of Middle Eastern crude in October and November. The company's average landed crude cost is around USD 10-12 above its benchmark, influenced by factors such as source, delivery route, freight, insurance, and delivery terms. BPCL's international crude desk, established in September, has facilitated access to new sourcing opportunities, including a cargo from the Caspian region at a discount. The company is set to present its proposed Andhra Pradesh refinery and petrochemical complex to the board for a final investment decision in the coming weeks, pending financing arrangements and regulatory approvals.",
  "summary": "Higher freight costs are prompting BPCL to reduce Russian crude purchases in November, while Middle Eastern supplies gain commercial appeal.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}