Brazilian oil company Petrobras has signed a strategic term contract with Bharat Petroleum Corporation (BPCL) for the supply of Brazilian crude oil grades. Additionally, Petrobras has entered cooperation pacts with ONGC Videsh (OVL) and Oil India to explore oil and gas opportunities,

Petrobras has signed agreements with BPCL for crude oil supply, and ONGC Videsh and Oil India for oil and gas exploration cooperation. These deals aim to strengthen energy security and collaboration between India and Brazil.

India's Bharat Petroleum Corp will sign a contract with Brazil's Petrobras for optional crude imports of 6 million barrels in 2025-26, Chairman G Krishnakumar said on Wednesday at the India Energy Week conference.

Oil PSU Bharat Petroleum Corporation Limited (BPCL) on Wednesday announced the signing of a term contract with Brazil’s national oil company, Petróleo Brasileiro S.A. (Petrobras), for the supply of 6 million barrels of Brazilian crude oil in FY26.

The contract would initially be valid for one year and can be extended by another year, BPCL said. The move is in line with the government's focus on diversifying India's crude oil sources and strengthen energy cooperation with Brazil.