Bharat Petroleum doubles Brazil crude purchase in major supply shift
Bharat Petroleum Corp Ltd has announced a $780 million oil deal with Brazil as Indian refiners diversify procurement away from Russian supplies for fiscal 2027.
Insights:
Bharat Petroleum Corporation Limited announced on Friday, January 23, 2026, that it has secured a $780 million contract to purchase 12 million barrels of Crude Oil WTI from Petróleo Brasileiro S.A. (Petrobras) . This agreement for fiscal 2027 represents a significant volume increase, doubling the size of the 2026 contract between the two companies. The contract is scheduled to be signed during the four-day India Energy Week conference, which begins on January 27.
