Bharat Petroleum Corporation Limited (BPCL) announced two significant agreements on February 12, 2025, to strengthen India’s energy security and maritime capabilities.
The shares of Bharat Petroleum Corporation Limited (BPCL) were trading flat at ₹255.55 on the NSE today at 2.50 pm.
In the first deal, BPCL signed a one-year strategic term contract with Brazil’s national oil company Petrobras for the supply of Brazilian crude oil. The agreement, which includes an option for a one-year extension, was signed in the presence of India’s Petroleum Minister Hardeep Singh Puri and BPCL Chairman G. Krishnakumar. The deal aims to diversify India’s crude oil sources and ensure stable supplies to BPCL’s refineries.
On the same day, BPCL also inked a Memorandum of Understanding (MoU) with the Shipping Corporation of India (SCI) to develop a dedicated shipping network for transporting crude oil, gas, and petroleum products. This partnership aligns with the government’s Maritime Amrit Kaal Vision 2047 and focuses on improving operational efficiency while securing India’s energy supply chain.
BPCL, a Fortune Global 500 company and India’s second-largest oil marketing company, operates three refineries with a combined capacity of 35.3 MMTPA. Its distribution network includes over 22,000 fuel stations and 6,250 LPG distributorships as of August 31, 2024.