India’s state-run refiner Hindustan Petroleum Corp (HPCL) has bought 4 million barrels of West Asian crude through a spot tender, multiple trade sources said on Thursday, according to Reuters. The purchase covers two grades — Murban crude and Oman crude — both loaded and exported from outside the Strait of Hormuz, with the oil scheduled to arrive around early October.
HPCL purchased 4 million barrels of West Asian crude from three trading counterparties via a single spot tender.
Deal Breakdown
Reuters reported on August 13, 2026, that the refiner split the tender across three commercial sellers. The volume breakdown, provided by multiple trade sources, is as follows:
- BP supplied 2 million barrels of Murban crude.
- PetroChina supplied 1 million barrels of Murban crude.
- Trafigura supplied 1 million barrels of Oman crude.
In total, 3 million barrels of Murban crude and 1 million barrels of Oman crude make up the 4-million-barrel purchase. All three cargoes were bought through the same spot tender, with the crude delivered to the refiner. Reuters noted that the companies typically do not comment on commercial transactions.
Pricing vs Dated Brent
Two of the people cited by Reuters provided pricing indications for the delivered cargoes. Murban crude delivered was priced at about $7 per barrel above the dated Brent contract, while Oman crude delivered was priced at about $4 to $5 per barrel above dated Brent.
| Cargo | Seller | Volume | Price indication |
|---|---|---|---|
| Murban crude | BP | 2 million barrels | About $7/bbl above dated Brent |
| Murban crude | PetroChina | 1 million barrels | About $7/bbl above dated Brent |
| Oman crude | Trafigura | 1 million barrels | About $4–5/bbl above dated Brent |
The price differentials apply on a delivered basis, according to the trade sources. These indications provide a benchmark for what an Indian state-run refiner paid for West Asian barrels in the spot market during this tender.
Supply Logistics
Both grades involved in the tender are loaded and exported from outside the Strait of Hormuz, the trade sources said. The routing detail is relevant for buyers monitoring West Asian crude supply chains and export logistics.
The cargoes will arrive around early October, placing the crude in HPCL’s inbound supply schedule for that delivery window. Reuters reported the arrival timing as part of the tender details.
What This Means for Crude Buyers
For commodity traders, procurement teams, and analysts tracking Indian refiner buying, the HPCL spot tender supplies a concrete reference point for current delivered premiums on West Asian grades relative to the dated Brent benchmark.
The transaction shows the refiner sourcing volume from BP, PetroChina, and Trafigura in one spot process, with pricing indications reported by Reuters on August 13, 2026. Because the companies involved typically decline to comment on commercial transactions, the trade-source disclosures published by Reuters remain the public record of the deal’s size, counterparties, and price levels.
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