In a fresh move to bolster India’s energy security, Bharat Petroleum (BPCL) has signed a strategic term contract with Petróleo Brasileiro (Petrobras), Brazil’s national oil company, for Brazilian crude supply.
This development marks a key milestone in the ongoing efforts to diversify India’s crude oil sources and strengthen energy cooperation with Brazil. The contract, initially valid for one year, has an option for extension for another year. This will ensure stable crude oil supply to BPCL’s refineries, reinforcing the long-standing partnership between the two companies.
G. Krishnakumar, Chairman & Managing Director, BPCL said, “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.”
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The agreement underscores BPCL’s proactive approach to navigating the complex global energy landscape and reinforces commitment to ensuring energy security for India.
BPCL share price
The BPCL share price is currently trading at Rs 254.45 per share, down by 0.31%. The company’s market capitalisation stands at Rs 1.10 lakh crore. The 52 week high stands at Rs 376 and low at Rs 242.20 apiece.
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