HPCL, BPCL have secured crude supplies till August, scouting for September
Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) have secured crude oil supplies through August and are currently seeking additional supplies for September. This comes as both companies reported a net loss in the first quarter of the financial year, marking their first loss since the onset of the Russia-Ukraine conflict. The refiners have diversified their sourcing strategies, including imports from Russia and Venezuela, to mitigate supply risks.