BPCL inks crude purchase pact with Brazil's Petrobras

Bharat Petroleum Corporation Ltd (BPCL) has signed an annual crude purchase agreement with Brazil's national oil company Petrobras.

The contract is valid for one year with an option to extend by another year, BPCL said in a statement on Wednesday. The state-run company didn't give more details on volume or whether it's a firm contract or optional.

Petrobras also signed preliminary agreements with ONGC Videsh and Oil India for the exploration and production sector.


"Oil India and Petrobras will jointly explore opportunities in India's deep and ultra-deep offshore regions, including the Mahanadi, Andaman, and other sedimentary basins," Oil India said.

ONGC Videsh's agreement is "aimed at assessing opportunities in the areas of upstream, marketing, decarbonization, and low-carbon solutions", ONGC Videsh said.