BPCL to Ink $780 Million Crude Deal with Brazil's Petrobras Amid Global Shifts

• Bharat Petroleum Corp Ltd (BPCL) will sign a $780 million term contract to source 12 million barrels of crude oil from Brazil's Petrobras.
• The deal is set to be signed at the India Energy Week 2026, reflecting India's strategy to diversify crude sourcing amidst global geopolitical changes.
• BPCL's subsidiary, Bharat PetroResources, will also sign an MoU with Shell to acquire stakes in global oil and gas companies.
• Union Minister Hardeep Singh Puri highlighted India's diversified crude sourcing to navigate global energy market shifts.
• Other agreements at India Energy Week include Oil India, Numaligarh Refinery (NRL), and TotalEnergies collaborating on LNG, and NRL and TotalEnergies partnering on a Sustainable Aviation Fuel project in Paradip, Odisha.

Why It Matters: BPCL secures a major crude deal with Petrobras, diversifying India's energy sources amid global market uncertainties.