BPCL INKS MAJOR CRUDE OIL DEAL WITH PETROBRAS

NEW DELHI, Feb. 12, 2025 /PRNewswire/ -- In a landmark development that reinforces India's commitment to energy security, Bharat Petroleum Corporation Limited (BPCL), a leading oil & gas company, 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.

The agreement was signed by Shri Manoj Heda, Executive Director, International Trade and Risk Management, BPCL and Claudio Romeo Schlosser - Director, Chief Logistics, Commercialization and Markets Officer in the presence of Shri Hardeep Singh Puri, Hon'ble Minister of Petroleum & Natural Gas, Government of India, Shri G. Krishnakumar, Chairman & Managing Director, BPCL, Shri Vetsa Ramakrishna Gupta, Director – Finance, BPCL and Ms. Magda Chambriard, President, Petrobras.

This significant development marks a major 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 with an option to extend for another year, will ensure a stable and reliable supply of crude oil to BPCL's refineries, reinforcing the long-standing partnership between the two companies.

Shri G. Krishnakumar, Chairman & Managing Director, BPCL, said, "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. Our partnership with Petrobras also reflects our commitment to deepening global collaborations and adapting to the evolving dynamics of the energy sector."

The agreement underscores BPCL's proactive approach to navigating the complex global energy landscape, ensuring the competitiveness of its crude sourcing.

With this agreement, BPCL reinforces its commitment to ensuring energy security for India, while Petrobras strengthens its position as a reliable supplier of crude oil to the Indian market.

About Bharat Petroleum Corporation Ltd. (BPCL):

Fortune Global 500 Company, Bharat Petroleum is the second largest Indian Oil Marketing Company and one of the integrated energy companies in India, engaged in refining of crude oil and marketing of petroleum products, with presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted Maharatna status, joining the club of companies having greater operational & financial autonomy.

Bharat Petroleum's Refineries at Mumbai, Kochi and Bina have a combined refining capacity of around 35.3 MMTPA. Its marketing infrastructure includes a network of installations, depots, fuel stations, aviation service stations and LPG distributors. Its distribution network comprises over 22,000+ Fuel Stations, over 6,250 LPG distributorships, 525 Lubes distributorships, 123 POL storage locations, 54 LPG Bottling Plants, 63 Aviation Service Stations, 5 Lube blending plants and 4 cross-country pipelines as on 31.08.2024.

Bharat Petroleum is integrating its strategy, investments, environmental and social ambitions to move towards a sustainable planet. The company has chalked out the plan to offer electric vehicle charging stations at around 7000 Fuel Stations over next 5 years.

With a focus on sustainable solutions, the company is developing an ecosystem and a road-map to become a Net Zero Energy Company by 2040, in Scope 1 and Scope 2 emissions. Bharat Petroleum has been partnering communities by supporting several initiatives connected primarily in the areas of education, water conservation, skill development, health, community development, capacity building and employee volunteering. With 'Energising Lives' as its core purpose, Bharat Petroleum's vision is to be an admired global energy company leveraging talent, innovation & technology.