Refinery expansion plans will not be affected by temporary flare-up, confident of recouping losses: Bharat Petroleum
Bharat Petroleum Corporation Ltd (BPCL) maintains that its refinery expansion plans remain on track despite recent geopolitical tensions in West Asia. The company has successfully diversified its crude oil and LPG sourcing to mitigate supply risks.
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Highlights corporate resilience and supply chain diversification strategies in the global energy sector during regional conflicts.
Bharat Petroleum Corporation Ltd (BPCL), the second largest Indian oil marketing company, has kept its expansion plans on as it said the refinery capacities are not expected to be affected by the recent flare-up in West Asia.
“We expect this to be a temporary period (the recent flare-up of tensions in West Asia). However, if you look at the overall dynamics of crude availability in terms of supply and demand, it is still in surplus,” Vetsa Ramakrishna Gupta, Director (Finance) of BPCL told The Hindu in an interaction on Thursday.
Mr. Gupta added that if the conflict resolves soon, it is expected that crude prices will cool off and Bharat Petroleum will be able to recoup their losses.
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