Which of the following public sector oil company has signed an agreement with Brazilian national oil company Petrobras for sourcing crude oil as part of plans to diversify its sourcing needs?

Solution

State-owned Bharat Petroleum Corporation Ltd (BPCL) has signed an agreement with Brazilian national oil company Petrobras for sourcing crude oil as part of plans to diversify its 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, Bina in Madhya Pradesh, and Kochi in Kerala. The firm, which gets the majority of its supplies from west Asian nations such as Iraq and Saudi Arabia, is looking to diversify its sources of supply in an attempt to cut down reliance on any particular region. BPCL HQ: Mumbai CMD: Arun Kumar Singh Petrobras Headquarters: Rio de Janeiro, Brazil CEO: Rio de Janeiro, State of Rio de Janeiro, Brazil