BPCL, Petrobras ink crude oil supply agreement to strengthen India-Brazil energy ties.

State-run Bharat Petroleum Corporation Ltd. (BPCL) has signed a term agreement with Brazil’s national oil company, Petróleo Brasileiro (Petrobras), for the supply of 6 million barrels of crude oil in the financial year 2025-26 (FY26).

BPCL described the deal as a key milestone in its efforts to diversify India’s crude oil sources and enhance energy cooperation with Brazil. The agreement, initially valid for one year with an option for extension, will ensure a stable and reliable crude supply to BPCL’s refineries, further cementing the partnership between the two companies.

BPCL Chairman & Managing Director G. Krishnakumar emphasized the significance of the deal, stating, “Strengthening our crude sourcing from Brazil aligns with our long-term vision of enhancing energy security for India. Our partnership with Petrobras reflects our commitment to deepening global collaborations and adapting to the evolving energy landscape.”

The agreement highlights BPCL’s strategic approach to securing competitive and diversified crude supplies, reinforcing India’s energy security. Meanwhile, Petrobras strengthens its role as a key supplier to the Indian market, further expanding bilateral energy trade between the two nations.

HBL