Indian Refiner BPCL Looks to Source Cheaper U.S. LPG in Swap Deal

Indian state-held refiner and fuel retailer Bharat Petroleum Corporation Ltd (BPCL) is in discussions with suppliers to swap a Middle East cargo with liquefied petroleum gas (LPG) with cheaper supply from the United States, the refiner’s head of finance, Vetsa Ramakrishna Gupta, said on Friday. “We are approaching suppliers. We see little bit of opportunity in terms of U.S. LPG. We are expecting a net benefit of $20 to $30 per ton,” Reuters quoted Gupta as telling analysts today.  The U.S.-China trade war has widened the…