State-run Bharat Petroleum Corporation has signed a term deal with Petróleo Brasileiro (Petrobras), Brazil’s national oil company, to supply 6 million barrels of crude oil in FY26.

This significant development marks a major milestone in the ongoing efforts to diversify India’s crude oil sources and strengthen energy cooperation with Brazil, BPCL said.

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, it added.

BPCL CMD G Krishnakumar said the 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,” he added.

The agreement underscores BPCL’s proactive approach to navigating the complex global energy landscape, ensuring the competitiveness of its crude sourcing.

With this agreement, BPCL reinforces its commitment to ensuring energy security for India, while Petrobras strengthens its position as a reliable supplier of crude oil to the Indian market.

Published on February 12, 2025