Bharat Petroleum Corporation Limited (NSE:BPCL) saw refining margins pressured as Brent swung from ~$125/bbl in April to ~$95 and analysts warn of a possible ~$120 by Q4, while the company increased spot crude sourcing to 69% in Q2 and returned cash to shareholders via interim and final dividends.
Previous Week Recap
- BPCL Brent Volatility Impacts Margins: BPCL faced volatile feedstock costs as Brent jumped to ~$125/bbl in April then eased to ~$95; Goldman Sachs warned Brent could hit ~$120 by Q4, impacting BPCL refining margins.
- BPCL Spot Dependency Increases: BPCL sourced 69% of crude in Q2 from spot markets, up from 44% year‑ago, showing a bigger reliance on spot purchases for oil supplies.
- BPCL Dividends Declared: BPCL announced dividends: interim Rs10/sh (effective Feb 2, 2026), interim Rs7.50/sh (effective Nov 7, 2025) and final Rs5/sh (effective Jul 31, 2025).
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