Bharat Petroleum Corporation Ltd (BPCL) has signed a Memorandum of Understanding (MoU) with Petrobras, a major oil company from Brazil to to diversify crude oil sourcing.
BPCL has issued a statement stating that the MoU was signed by the Company’s chairman Arun Kumar Singh and Caio Paes de Andrade, CEO of Petrobras in Brazil on Saturday. The signing of the MOU will strengthen future crude oil trade relationships between the two companies and explore potential crude import opportunities by BPCL, on a long-term basis.
This is the first such long-term supply deal inked by BPCL with Petrobras.
