**Mumbai, August 21, 2026:** Bharat PetroResources Limited has moved into a new phase in Brazil after completing the acquisition of Videocon’s full shareholding in IBV Brasil Petroleo Limitada, its earlier Brazilian joint venture company.
BPRL, the upstream arm of Bharat Petroleum Corporation Limited, now holds IBV as a wholly owned step-down subsidiary. Following the transaction, the company has been renamed **BPRL Brasil Limited **, with the updated identity approved and registered by Brazilian authorities on **August 19, 2026**.
The development gives BPRL a clearer corporate presence in Brazil and aligns the business with BPCL’s core values, ethos and brand promise. For the Brazilian market, the renamed entity reflects a change in ownership and presents a sound, stable partner for future project activity.
BPRL Brasil Limitada holds participating interests in oil and gas concessions in Brazil, including **BM-SEAL-11** and **BM-C-30**. In BM-SEAL-11, the consortium of **Petrobras** and BPRL Brasil Limitada is moving ahead with development work. Once production begins, the project could contribute around **1 million tonnes of oil equivalent per annum** as BPRL’s share of equity oil and gas output.
The Brazil update comes as BPRL continues to advance under BPCL’s **Project ASPIRE**. Its investments, including those in **Brazil** and **Mozambique**, remain on track. At present, BPRL produces about **55,000 barrels of oil equivalent per day** from assets in India and overseas. With these investments, production is expected to rise significantly by **2031**.
