India is set to begin importing crude oil from Brazil, with state-run Bharat Petroleum Corporation Ltd (BPCL) expected to sign a long-term sourcing agreement with Brazilian oil major Petrobras, according to sources familiar with the development.
The deal marks a step toward diversifying India’s crude oil import basket as refiners look to reduce dependence on traditional suppliers in West Asia and manage geopolitical and supply risks. Under the agreement, BPCL is expected to source Brazilian crude grades suitable for its refineries, helping optimise feedstock flexibility.
Brazil has emerged as a growing crude exporter in recent years, supported by rising production from its offshore pre-salt fields. For India, tapping Brazilian supplies offers access to a stable, non-OPEC source, even as longer shipping distances may raise freight considerations.
Industry officials say the BPCL–Petrobras deal aligns with India’s broader energy security strategy, which emphasises supply diversification, competitive pricing and long-term partnerships. The agreement is expected to be finalised soon, paving the way for regular Brazilian crude shipments to Indian refineries.