Petrobras has signed a pivotal deal with India's Bharat Petroleum to deliver 6 million barrels of oil per year from 2025 to 2026, marking a strategic expansion of its international market. The agreement, finalized in February 2023 during the Brazil Energy Forum, is part of Brazil's effort to strengthen economic ties with India, which is seeking to diversify its oil supply. Notably, the partnership aims to boost Petrobras' exports to India from 4% to 24 million barrels annually and reflects Brazil's shifting focus to more independent international partnerships.
At the Brazil Energy Forum, Petrobras announced a major oil deal with India's Bharat Petroleum to supply 6 million barrels annually, significantly expanding its customer base.
Petrobras aims to increase its oil exports to India from a mere 4% to 24 million barrels per year, enhancing ties amid rising geopolitical tensions.
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