Overview
- Indian Oil, BPCL and HPCL finalized a one‑year agreement to import 2.2 MTPA of LPG from the US Gulf Coast for the 2026 contract year.
- The purchase is India’s first structured US LPG contract and is priced off the Mount Belvieu benchmark.
- Officials from the three state-run firms held months of talks with major US producers before concluding the deal.
- The government presents the move as strengthening energy security and protecting affordability after spending over Rs 40,000 crore to shield PMUY households during a >60% global price surge.
- Press reports link the deal to broader US–India trade discussions and name likely sellers such as Chevron, Phillips 66 and TotalEnergies Trading, with shipments expected on very‑large gas carriers.