Current Affairs/International Relations GS2 · International Relations24 Jul 2026 · The Hindu — Business
Refiners HPCL and BPCL secure August crude supplies, now seek September allocations
The two refiners posted a net loss in the first quarter of the current financial year - their first since the onset of the Russia-Ukraine conflict.
Quick Revision
Prelims-testable facts
- 01Hindustan Petroleum Corp (HPCL) and Bharat Petroleum Corp Ltd (BPCL) have secured crude supplies till August.
- 02The two refiners posted a net loss in the first quarter of the current financial year, their first since the onset of the Russia-Ukraine conflict.
- 03Indian Oil Corporation and Hindustan Petroleum have collectively secured approximately 7 million barrels of crude oil through recent tenders.
- 04The supplies are scheduled for delivery between late August and September.
- 05Hindustan Petroleum purchased Brazilian Tupi crude as part of these significant purchases.
- 06Bharat Petroleum Corp Ltd (BPCL) has adequate LPG stock till August end, but securing September supplies may become a challenge if the problem persists.
- 07Indian refiners have secured enough crude to meet their needs through at least August.
Trap alerts
- Most people think that HPCL and BPCL's net loss is due to high global oil prices, but actually it's due to the Russia-Ukraine conflict.
- Most people think that Indian Oil Corporation has not made any significant purchases of crude oil, but actually they have collectively secured approximately 7 million barrels through recent tenders.
Current-affairs link
The government has introduced the Strategic Petroleum Reserve (SPR) policy to maintain a stockpile of crude oil for emergency situations, which is currently being implemented by Indian Oil Corporation and other state-run refiners.
Mains Practice Question
Critically examine the impact of global events on the crude oil supply chain for Indian refiners, using the examples of HPCL and BPCL.
250 words
Practice this in the exam hall →Prelims Practice MCQs
Single facteasy
The Russia-Ukraine conflict led to a net loss in which company's first quarter results?
The Russia-Ukraine conflict led to a net loss in BPCL's first quarter results, marking the company's first such loss since the onset of the conflict.
Single factmedium
HPCL and BPCL have secured crude supplies till which month?
- A.July
- B.August
- C.September
- D.October
HPCL and BPCL have secured crude supplies till August, but are scouting for September.
Single facthard
The two refiners are currently scouting for crude supplies for which month?
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