'BPCL in talks with Rosneft to buy oil priced on Dubai benchmark'

Credit: IndiaTimes- Published on June 23, 2023

Indian state-run company BPCL is in talks with Rosneft to buy 6m tonnes of discounted Russian crude oil worth $8 per barrel less than the Dubai benchmark by March 2024. The deal, which needs approval from BPCL's board, will mark a shift by Rosneft to pricing oil against Asian benchmark Dubai. Rosneft would deliver the equivalent...