Indian oil stocks like IOCL and BPCL came into sharp focus today after the European Union approved a fresh round of sanctions against Russia. What’s catching attention this time is that the new package includes Rosneft’s operations in India, potentially impacting crude sourcing and refinery operations linked to the Russian major.
Rosneft, a key Russian oil company, has been a crucial supplier of discounted crude to Indian refiners over the past couple of years. Both Indian Oil Corporation (IOCL) and Bharat Petroleum (BPCL) have benefited from this stable and cost-effective supply chain. But with the EU now targeting Rosneft’s overseas activities—including its involvement in India—investors are watching closely for any ripple effects.
IOCL shares opened at ₹150.51 and touched a high of ₹151.61 during the session. The stock slipped to an intraday low of ₹148.60. It continues to trade in a broad range, with its 52-week high standing at ₹185.97 and the 52-week low at ₹110.72.
On the other hand, BPCL shares traded between ₹342.10 and ₹351.45 today, opening at ₹347.50. The stock remains below its 52-week high of ₹376.00 but well above the 52-week low of ₹234.01.
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