In a significant move to enhance India’s energy security, Bharat Petroleum Corporation Limited (BPCL) has signed a strategic term contract with Petróleo Brasileiro S.A. (Petrobras), Brazil’s national oil company, for the supply of Brazilian crude oil grades.
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The agreement was signed by Mr. Manoj Heda, Executive Director of International Trade and Risk Management at BPCL, and Mr. Claudio Romeo Schlosser, Chief Logistics, Commercialization, and Markets Officer at Petrobras. The signing ceremony was attended by Mr. Hardeep Singh Puri, Minister of Petroleum & Natural Gas, Mr. G Krishnakumar, Chairman & Managing Director of BPCL, Mr. Vetsa Ramakrishna Gupta, Director – Finance at BPCL, and Ms. Magda Chambriard, President of Petrobras.
This agreement, initially valid for one year with an option to extend for another year, ensures a stable and reliable crude oil supply to BPCL’s refineries, reinforcing India’s crude diversification strategy and strengthening energy cooperation with Brazil.
Mr. G Krishnakumar stated, “This agreement with Petrobras marks a significant step in BPCL’s strategy to secure stable, competitive, and diversified crude supplies. Strengthening our crude sourcing from Brazil aligns with our long-term vision of enhancing energy security for India.”
For BPCL, this partnership aligns with its proactive approach to securing competitive crude sourcing, while for Petrobras, the agreement further solidifies its position as a reliable crude oil supplier to India.
Bharat Petroleum Corporation Limited (BPCL) is a leading public sector undertaking (PSU) in India, engaged in refining, marketing, and distribution of petroleum products. It plays a crucial role in ensuring the country’s energy security through strategic crude sourcing and refining operations.
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