New Delhi: State-owned Bharat Petroleum Corporation Ltd (BPCL) has signed contracts to import over 7 million tonnes of crude oil from Kuwait and the United Arab Emirates (UAE).
BPCL, the nation`s second biggest state refiner, signed term contracts for import of crude oil with Kuwait Petroleum Corp (KPC) and Abu Dhabi National Oil Company (ADNOC) during a visit of high-level delegation led by company Chairman S Varadarajan.
The company and its subsidiary Bharat Oman Refineries Ltd "signed the contract to import 4.2 million tonnes of crude oil from Kuwait in 2014-15. BPCL would also be importing 3 million tonnes of ADNOC grades of crude oil for 2014-15," BPCL said in a statement today.
S C Khuntia, Additional Secretary & Financial Advisor, Ministry of Petroleum and Natural Gas; B K Datta, Director (Refineries), BPCL and B K Das, Managing Director, BORL, were part of the delegation that visited Kuwait and the UAE.
The delegation was in Kuwait and the UAE "for signing of term contracts, to strengthen business relationship with national oil companies of Kuwait and Abu Dhabi and to discuss further on the term contract for assuring continuous crude oil supplies to (BPCL`s) Mumbai, and Kochi (refineries) and BORL`s Bina refinery."