BPCL Inks Major Crude Oil Deal With Petrobras
12 Feb 2025 | New Delhi, India
In a landmark development that reinforces India's commitment to energy security, Bharat Petroleum Corporation Limited (BPCL), a leading oil & gas company, has signed a strategic term contract with Petróleo Brasileiro S.A. (Petrobras), Brazil's national oil company, for the supply of Brazilian crude oil grades.
The agreement was signed by Shri Manoj Heda, Executive Director, International Trade and Risk Management, BPCL and Claudio Romeo Schlosser - Director, Chief Logistics, Commercialization and Markets Officer in the presence of Shri Hardeep Singh Puri, Hon'ble Minister of Petroleum & Natural Gas, Government of India, Shri G. Krishnakumar, Chairman & Managing Director, BPCL, Shri Vetsa Ramakrishna Gupta, Director – Finance, BPCL and Ms. Magda Chambriard, President, Petrobras.
This significant development marks a major milestone in the ongoing efforts to diversify India's crude oil sources and strengthen energy cooperation with Brazil. 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.
The agreement underscores BPCL's proactive approach to navigating the complex global energy landscape, ensuring the competitiveness of its crude sourcing.
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