Overview
- Indian Oil, BPCL and HPCL sealed a one-year purchase of 2.2 MTPA of LPG for the 2026 contract year, sourcing cargoes from the U.S. Gulf Coast.
- The contracted volume equals nearly a tenth of India’s annual LPG imports, reducing reliance on long-standing West Asian suppliers.
- Pricing is tied to the Mount Belvieu benchmark, integrating U.S. market references into India’s procurement framework.
- The government frames the move as protecting consumers after last year’s >60% global LPG price spike, noting more than Rs 40,000 crore in subsidies to keep Ujjwala cylinders at Rs 500–550.
- Industry sources told the Indian Express the joint tender was awarded to Chevron, Phillips 66 and TotalEnergies Trading, with commercial terms undisclosed.