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The Country Is One of the Largest Importers of Oil in the World, Therefore the Agreement with the Indian State-Owned Company Is Even More Relevant for Petrobras.
Petrobras announced last Wednesday, February 12, the signing of an export contract for oil with BPCL (Bharat Petroleum Corporation Limited), an Indian state-owned company. The agreement, which will commence in 2025, provides for the sale of up to 6 million barrels of oil per year, reinforcing the Brazilian company’s presence in the international market.
The contract signing took place in New Delhi, during India Energy Week, an event of global relevance for the energy sector.
Increase in India’s Participation in Petrobras Oil Exports
The Director of Logistics, Commercialization, and Markets at Petrobras, Claudio Schlosser, was one of the company’s representatives at the event. Petrobras’s business mission to the country also included the presence of President Magda Chambriard, who participated in a panel on the future of the energy sector.
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According to Schlosser, the goal of the contract is to increase India’s participation in Petrobras’s oil exports.
This contract is expected to enhance India’s participation in Petrobras’s oil exports. “We are always seeking clients who value the quality of the oil exported by the company,” stated the director.
It is worth noting that in 2024, India accounted for 4% of Petrobras’s oil exports. Thus, with the new contract, the expectation is that this participation will grow substantially in the coming years.
India, the third-largest oil importer in the world, relies on imports to meet about 85% of its oil demand, making the country a strategic market for companies in the sector.
Flexible Contract Model Guarantees Agility and Security in Negotiations
The contract signed between Petrobras and BPCL is of the “framework” type, which offers flexibility for both parties. This contract model has proven effective in the international market, allowing adjustments based on the realities of the oil market.
“This contract model facilitates the entire marketing process. The parties negotiate periodically, following the prevailing market realities and seek a commercial agreement that is compatible with their alternatives. If this agreement is reached, this pre-approved contract accelerates the operation. It is a strategy to increase our customer base in this market,” explained Schlosser.
The flexibility of the “framework” model is a strategy of Petrobras to expand its customer base in the Asian market, particularly in India. With the pre-approved contract, the parties can act quickly, optimizing the commercial process and taking advantage of the best market conditions.
With information from Petrobras.
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