Bharat Petroleum Corporation (BPCL), an oil and 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 Manoj Heda, Executive Director, International Trade and Risk Management, BPCL and Claudio Romeo Schlosser – Director, Chief Logistics, Commercialisation and Markets Officer in the presence of Hardeep Singh Puri, Minister of Petroleum and Natural Gas, Government of India.
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, as per the press release.
G. Krishnakumar, Chairman and Managing Director, BPCL, said, “This agreement with Petrobras marks a significant step in BPCL’s strategy to secure stable, competitive and diversified crude supplies. Strengthening our crude sourcing from Brazil aligns with our long-term vision of enhancing energy security for India. Our partnership with Petrobras also reflects our commitment to deepening global collaborations and adapting to the evolving dynamics of the energy sector.”