(THE NEWSMAN OF INDIA.COM) by Abul Hasan:
New Delhi, February 2025: Bharat Petroleum Corporation Limited (BPCL) has entered into a groundbreaking term contract with Petrobras, Brazil’s national oil company, marking a significant step in strengthening India’s energy security and BPCL’s crude oil diversification. The contract, which will see the supply of Brazilian crude oil to India, was officially signed by Manoj Heda, Executive Director of International Trade & Risk Management at BPCL, and Claudio Romeo Schlosser, Director of Logistics, Commercialization & Markets at Petrobras.

The event, which took place in New Delhi, was graced by prominent figures including Hardeep Singh Puri, Minister of Petroleum and Natural Gas of India, G. Krishnakumar, Chairman & Managing Director of BPCL, and Vetsa Ramakrishna Gupta, Director – Finance of BPCL. The ceremony also saw the participation of Ms. Magda Chambriard, President of Petrobras, alongside senior Petrobras officials.

This strategic partnership not only ensures a steady and diversified supply of crude oil to India but also solidifies the longstanding relationship between the two countries in the energy sector. The deal provides BPCL with access to Brazil’s high-quality crude, an essential step in enhancing the company’s crude sourcing capabilities and mitigating supply risks.

Speaking at the signing, Hardeep Singh Puri highlighted the significance of the agreement, stating, “This collaboration with Petrobras is a pivotal moment for both nations, reinforcing India’s commitment to ensuring energy security through diversified sources and fostering deeper bilateral ties with Brazil.”

G. Krishnakumar, Chairman & Managing Director of BPCL, expressed enthusiasm for the partnership, saying, “The signing of this landmark contract is a key milestone in BPCL’s journey of becoming a more resilient player in the global energy market. This agreement aligns with our strategic objective to expand our crude oil portfolio while ensuring energy security for India.”

With this new agreement, BPCL secures a stable and diverse crude oil supply, positioning itself to navigate the complexities of global energy markets. The deal also stands as a testament to the growing collaboration between India and Brazil in the energy sector, setting the stage for further partnerships in the years ahead.

This contract comes at a crucial time as BPCL aims to reinforce its long-term sustainability in the oil and gas industry, while also contributing to India’s ongoing efforts to enhance its energy independence.