Petrobras signed, on Wednesday (12), contract for export of oil with the state -owned Indian BPCL – Bharat Petroleum Corporation Limited. The contract foresees a total sale volume of up to 6 million barrels per year and will start later this year.
The contract is in Framework mode, which grants flexibility to both parties. According to Petrobras, it is a mechanism that proven to work in this market previously. “This contract model facilitates the entire marketing process. The parties negate periodically, following the current reality of the market and seek a trade agreement that is compatible with their alternatives. If this agreement is achieved, this pre-approved contract accelerates the operation. It is a strategy to increase our customer base in this market, “explained Petrobras’ logistics, marketing and markets director Claudio Schlosser.
The agreement was signed in Nova Delhi, India, with the presence of Schlosser. Company executives participate this week of business mission to the country, during India Energy Week, an event that had a panel of state president Magda Chambriard.
“It is expected with this contract to increase the participation of India in Petrobras oil exports. We are always looking for customers who value the quality of oil exported by the company,” said the director.
Partnership
India was, in 2024, the destination of 4% of Petrobras oil exports. Third largest importer in the world, the country had about 85% of its oil demand for imports last year. With an increase in its energy demand, driven by a robust economic growth, India remains a relevant destination for Brazilian oil.
“The contract represents an important step towards strengthening trade relations between Petrobras and the state refining segment in India,” says the Brazilian state -owned company.
