BPCL Plans Singapore Trading Hub to Cut Costs and Boost Margins

India’s Bharat Petroleum Corp. will open a trading office in Singapore next month, as the state-owned refiner seeks to become more flexible in its feedstock procurement process and reduce costs to boost processing margins, Chairman Sanjay Khanna said on Thursday.

The Mumbai-based refiner’s new desk will initially be staffed by four traders, and could be expanded later, Khanna told reporters on the sidelines of the India Energy Week conference in Goa on Thursday.