India’s BPCL says no payments pending for Russian oil imports

NEW DELHI (Reuters) – India’s Bharat Petroleum Corp (BPCL) has cleared all payments for Russian oil purchases, its head of finance Vetsa Ramakrishna Gupta told an analysts’ conference after the company’s September quarter earnings report.

“As of today nothing is there beyond the due date,” Gupta said in response to a question about whether any payments to Russia were delayed.

The Indian government has expressed discomfort over settling payment for Russian oil in Chinese yuan.

Gupta also said that BPCL was processing Russian oil at the maximum “potential level” at its three plants, averaging about 30-40% of overall crude intake.

BPCL operates a 240,000 barrel-per-day (bpd) refinery in Mumbai, western India; a 310,000-bpd refinery in Kochi, southern India; and a 156,000 bpd plant in central India.

(Reporting by Nidhi Verma; Editing by Mark Potter)