BPCL signs agreement with Petrobras to diversify oil sourcing

Bharat Petroleum Corporation Limited (BPCL) has signed a preliminary agreement with Brazil’s national oil company, Petrobras for sourcing crude oil from the Latin American nation as part of its plans to diversify sourcing needs. BPCL imports a large volume of crude oil, which is turned into fuel such as petrol and diesel at its three oil refineries at Mumbai in Maharashtra, Bina in Madhya Pradesh and Kochi in Kerala.