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BPCL to double crude supply from Brazil’s Petrobras
January 24, 2026
|Business Standard
Bharat Petroleum Corporation Ltd (BPCL) will sign a term contract with Brazil’s state-run Petrobras to purchase 12 million barrels (bbl) of crude oil for $780 million, Hardeep Singh Puri, Union minister of petroleum and natural gas, said on Friday.
The deal would be signed next week during Indian oil ministry’s flagship event “India Energy Week (IEW)-2026” to be held in Goa from January 27-30.
The fresh deal between BPCL and Petrobras for 2026-27 (FY27) would double oil volumes from last year’s crude term contract under which the Brazilian oil company supplied 6 million bbl during FY26.
Amid the recent cutdown in India’s intake of Russian oil due to US sanctions, domestic refiners are scouting for additional crude supplies from traditional sources while also exploring new geographies such as Brazil and Guyana.
هذه القصة من طبعة January 24, 2026 من Business Standard.
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