BPCL taps US LPG spot market for first time amid Gulf supply disruption
New Delhi, May 20 -- India's efforts to diversify LPG supplies have gained momentum after state-run Bharat Petroleum Corporation Ltd (BPCL) made its first-ever spot purchases from the American market, a top company official said, as the country seeks to reduce dependence on West Asia amid ongoing conflict in the region.
The development assumes significance as India imports 60-65% of its annual liquefied petroleum gas (LPG) requirement of 33 million tonnes, with nearly 90% of these imports sourced from West Asia, making it vulnerable to supply-chain disruptions amid the ongoing US-Iran tensions in the region.
Although the mobilization period from the US is about 45 days, cargoes from North America would ease supply crunch faced by the wo...
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