India's second-biggest refiner has been relying on Russian barrels, which are at least $3 per barrel cheaper than dated Brent, for about a third of its feedstock

Bharat Petroleum Corp, India's state-run oil refiner, expects its processing of Russian oil down to 20% in March, down from 31% this month.

The wide-ranging sanctions imposed by the U.S. on the Russian oil sector have started to dent near-term oil flows to India with state-owned Bharat Petroleum Corporation Ltd. (BPCL) saying not enough cargoes are available for March.

India's state-run refiner Bharat Petroleum Corp sees its Russian oil processing down to 20% in March from 31% this month as it awaits offers from traders, its head of finance Vetsa Ramakrishna Gupta told an analyst call on Thursday.

India's Bharat Petroleum Corp projects a decline in Russian oil processing to 20% in March from 31% in February due to unclear supply conditions. The company copes by sourcing alternatives and expanding tenders,