India’s BPCL sets up Singapore desk to expand global energy trading

India’s state-owned Bharat Petroleum Corporation Limited (BPCL) is set to launch a new trading desk in Singapore next month as part of its strategy to strengthen its global energy trading operations. The company has established a wholly owned subsidiary, Bharat Petroleum Global Energy Services (Singapore) Pte. Ltd., with an initial capital of $2 million to handle crude oil, LNG, refined fuels, and related commodity trading.

The Singapore desk will enable BPCL to operate closer to major international trading hubs, improving supply sourcing, risk management, and access to global markets. The company plans to deploy an initial team of four to five staff to manage trading activities and expand its international presence.

BPCL also aims to diversify its crude sourcing portfolio, including potential purchases from Venezuela. Its Bina and Kochi refineries can process up to 15% Venezuelan crude, providing greater flexibility in feedstock selection. By centralizing part of its trading operations overseas, BPCL intends to enhance efficiency, strengthen its global footprint, and improve competitiveness across its energy portfolio.

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