Bharat Petroleum Corporation has signed a strategic term contract with Petróleo Brasileiro S.A. (Petrobras), Brazil's national oil company,
for the supply of Brazilian crude oil grades.
This significant development marks a major milestone in the ongoing efforts to diversify India's crude oil sources and strengthen energy cooperation with Brazil. The contract, initially valid for one year with
an option to extend for another year, will ensure a stable and reliable supply of crude oil to BPCL's refineries, reinforcing the long-standing partnership between the two companies.
G. Krishnakumar, Chairman & Managing Director, BPCL, said, "This agreement with Petrobras marks a significant step in BPCL's strategy to secure stable, competitive and diversified crude supplies. Strengthening our crude sourcing from Brazil aligns with our long-term vision of enhancing energy security for India. Our partnership with Petrobras also reflects our commitment to deepening global collaborations and adapting to the evolving dynamics of the energy sector."