BPCL Secures Major Crude Oil Deal with Petrobras to Boost India’s Energy Security
This agreement with Petrobras marks a significant step in BPCL’s strategy to secure stable, competitive, and diversified crude supplies,” says BPCL CMD
New Delhi, February 12, 2025: Shri G. Krishnakumar, Chairman & Managing Director of Bharat Petroleum Corporation Limited (BPCL), highlighted the importance of the newly signed crude oil supply agreement with Petróleo Brasileiro S.A. (Petrobras), emphasizing its role in strengthening India’s energy security and expanding BPCL’s global partnerships.
The strategic term contract between BPCL and Petrobras, Brazil’s national oil company, was signed in the presence of Shri Hardeep Singh Puri, Hon’ble Minister of Petroleum & Natural Gas. The agreement was formalized by Shri Manoj Heda, Executive Director, International Trade and Risk Management, BPCL, and Claudio Romeo Schlosser, Chief Logistics, Commercialization, and Markets Officer at Petrobras. Key officials, including Shri Vetsa Ramakrishna Gupta, Director (Finance), BPCL, and Ms. Magda Chambriard, President of Petrobras, were also present.
Initially valid for one year, with an option to extend for another year, the deal ensures a stable and reliable supply of Brazilian crude oil to BPCL’s refineries. This move aligns with BPCL’s long-term strategy to diversify its crude sourcing and strengthen its presence in the global energy market.
“This agreement reflects our commitment to enhancing energy security for India and deepening collaborations in the evolving global energy sector,” added Shri G. Krishnakumar.
By signing this agreement, BPCL takes a significant step toward mitigating risks in the global energy landscape, while Petrobras solidifies its position as a key crude oil supplier to India. The partnership is expected to boost energy cooperation between the two countries and promote mutual growth.