India Energy Week 2026, beginning 27 January in Goa, will witness the signing of a $780 million crude oil contract between state-owned Bharat Petroleum Corp Ltd and Brazil’s Petrobras, alongside major shipbuilding agreements, Business Standard reported.
The four-day conference at ONGC’s Advanced Training Institute will bring together ministers from across the world, global chief executives, policymakers, and technology providers.
BPCL will purchase 12 million barrels of crude oil from Petrobras for the 2026-27 fiscal year, doubling the volume from its previous six million barrel contract in FY26.
This forms part of India’s strategy to diversify crude procurement as the country now sources oil from 41 countries, up from 27 geographies in 2007.
The move comes as Indian refiners seek alternatives to Russian supplies after recent US sanctions.
The event will also feature significant shipbuilding partnerships, with Oil and Natural Gas Corporation and its Japanese partner Mitsui OSK Lines signing two contracts with South Korea’s Samsung Heavy Industries.
The collaboration will see construction of two very large ethane carriers for transporting ethane from the United States to ONGC’s petrochemical arm at Dahej, Gujarat, starting around 2028, strengthening India’s energy self-reliance.
Additional agreements include memoranda of understanding between BharatPetro Resources Ltd and Shell for global upstream opportunities, while Numaligarh Refinery Ltd and TotalEnergies will collaborate on a 200 kilo tonne per annum sustainable aviation fuel project at Paradip, Odisha.
Oil India Ltd and Numaligarh Refinery will also partner with TotalEnergies for liquefied natural gas sourcing opportunities.
India Energy Week 2026 is expected to attract over 75,000 delegates, with 17 ministers and deputy ministers from countries including the UAE, Canada, the Netherlands, Oman, Brunei, Myanmar, and Tanzania attending.
Prime Minister Narendra Modi will interact with global chief executives, including 13 foreign CEOs, five Indian private sector leaders, and heads of nine public sector undertakings during the event.