BPCL And HMEL Buy Venezuelan Oil To Diversify Supplies

24 Feb 2026 CW Team

Bharat Petroleum Corporation Limited (BPCL) and HPCL Mittal Energy Limited (HMEL) have each acquired one mn barrels of Venezuela’s Merey crude, with BPCL making its first purchase and HMEL buying Venezuelan oil for the first time in two years, according to three sources familiar with the trade. The sources requested anonymity because the deals were confidential.

The heavy oil was acquired through two separate deals and is planned to be co loaded on a Very Large Crude Carrier (VLCC) to reduce shipping cost, a move expected to raise India’s imports of Venezuelan crude to at least six mn barrels through April. Co loading on a single vessel is intended to cut freight expenses and improve delivery efficiency for importers.

The purchases were made from trader Vitol and price details were not immediately available, the sources said. HMEL had previously received Venezuelan shipments in February 2024, and other Indian refiners have bought the same grade in recent months as they diversify supplies. Traders including Trafigura have been marketing Venezuelan cargoes under licences granted by the United States as part of a broader supply arrangement with Caracas.

BPCL will split one cargo for discharge at Kochi port in Kerala for its 310,000 barrel per day Kochi refinery and the other for discharge at Sikka in Gujarat for its 156,000 barrel per day Bina refinery. HMEL will import through Mundra for its 226,000 barrel per day Bathinda refinery. Analysts said refiners in India are diversifying crude sources as they reduce purchases from Russia, a trend that assisted New Delhi in securing an interim trade understanding with Washington. Separately, market participants expect shipments from Venezuela to the United States to pick up in coming weeks, as some large refiners seek direct purchases.

Infrastructure Urban

10 Apr 2026

Güntner Showcases Cooling Tech at China Expo

Güntner showcased its latest refrigeration and air conditioning innovations at China Refrigeration 2026, highlighting digital intelligence and carbon-neutral solutions.The company presented its aicore™ Controls and IoT platform, designed to optimise energy consumption, enable remote monitoring and enhance lifecycle management of cooling systems. The solution integrates advanced controllers and cloud-based capabilities to improve operational efficiency and reduce energy use.Güntner also demonstrated advancements in heat pump technologies, including its role in projects such as the Ordos Zer..

Superb Realty Ties Up with Praan for AI Air Tech

Superb Realty has partnered with Praan to deploy AI-powered autonomous air infrastructure across over one million sq ft of real estate in Mumbai, marking a significant move towards intelligent indoor environments.The rollout will begin at Superb Altura and expand across upcoming residential and mixed-use developments. The initiative aims to integrate real-time sensing, adaptive purification and AI-led optimisation to improve indoor air quality and occupant experience.Praan’s technology is designed to remove ultrafine particles significantly smaller than conventional systems and eliminate har..

DAAKit Raises $138,000 in Pre-Seed Round

DAAKit has raised $138,000 in a pre-seed funding round led by Inflection Point Ventures to expand its hyperlocal fulfilment network and strengthen technology capabilities.The company plans to use the funds to launch 25 new dark stores across Tier I and Tier II cities, enhance its technology infrastructure, and expand its leadership and operations teams. Currently operational in Delhi, Gurugram, Mumbai, Bengaluru and Kolkata, DAAKit is also piloting expansion into Tier II markets through Lucknow.Built on an asset-light, technology-driven model, the platform enables brands to position inventory ..