Bharat Petroleum Corp Ltd plans to start oil trading office in Singapore
Updated : April 19, 2018 03:28 PM IST
BPCL could become the second Indian state refiner after Indian Oil Corp to open a Singapore trading outpost as Indian buyers hunt for competitively priced spot cargoes from the Asian oil-trading hub.
The company has started looking for office space and plans to transfer up to four staff from Mumbai to Singapore initially.
BPCL along with its subsidiaries operate refineries that can process 730,000 barrels per day of crude oil, equivalent to about 15% of India's overall refining capacity.