India's Bharat Petroleum Corp and Japan's Taiyo Oil have secured crude oil cargoes from the United States through competitive tender processes this week, according to trade sources.
The transactions highlight continued appetite for US barrels among major Asian refiners as they build inventory ahead of the autumn season.
Bharat Petroleum, which recently acquired 1 million barrels of West Texas Intermediate for August delivery, is adding to its supply base through similar tender mechanisms.
Taiyo Oil purchased 2 million barrels of US crude for delivery in early October.
Bharat Petroleum, which recently acquired 1 million barrels of West Texas Intermediate for August delivery, is adding to its supply base through similar tender mechanisms.
These moves reflect a broader trend of Indian state-owned refiners, including Indian Oil Corp and Hindustan Petroleum Corp, collectively securing approximately 7 million barrels through recent tender rounds.
The procurement activity underscores the strategic shift toward US crude as Asian buyers diversify supply sources amid ongoing geopolitical uncertainties in traditional sourcing regions.