BPCL Secures Energy Future with Petrobras Crude Supply Agreement

Bharat Petroleum Corporation Limited (BPCL) and Petróleo Brasileiro S.A. (Petrobras) have signed a strategic contract to supply Brazilian crude oil to India, enhancing energy security and diversifying sources. The agreement, valid for one year with an extension option, reinforces BPCL's commitment to stable crude supply and global partnerships.

In a landmark development underscoring India's commitment to energy security, Bharat Petroleum Corporation Limited (BPCL) has inked a strategic term contract with Petróleo Brasileiro S.A. (Petrobras), Brazil's national oil company, ensuring the supply of Brazilian crude oil grades.

The agreement was formalized by key executives from both corporations in the presence of India's Petroleum Minister, Hardeep Singh Puri. The partnership aims to diversify India's crude oil sources, with an initial valid term of one year and the option to extend, guaranteeing a stable supply to BPCL's refineries.

This arrangement not only strengthens BPCL's strategy to secure diversified and competitive crude supplies but also reflects a broader vision for enhanced energy security, deepened global collaborations, and adaptation to evolving energy sector dynamics. The contract solidifies Petrobras as a reliable supplier to the Indian market.

(With inputs from agencies.)