Overview
- Petroleum Minister Hardeep Singh Puri announced that Indian Oil, Bharat Petroleum and Hindustan Petroleum have sealed the agreement for the 2026 contract year.
- The deal sources LPG from the US Gulf Coast and is India’s first structured contract for American LPG.
- At 2.2 million tonnes per annum, the volume equals roughly a tenth of India’s yearly LPG imports and introduces the Mont Belvieu benchmark into settlements.
- Industry sources say the joint tender was awarded to Chevron, Phillips 66 and TotalEnergies Trading, with commercial details not disclosed.
- Officials framed the move as diversification away from traditional West Asian suppliers, noting the government spent over Rs 40,000 crore last year to shield Ujjwala households during a more than 60% global price surge.