NEW DELHI, Jan 23 (Reuters) - India's Bharat Petroleum Corp Ltd (BPCL.NS) , opens new tab will buy 12 million oil barrels for $780 million from Brazil's Petrobas (PETR3.SA) , opens new tab in fiscal 2027, twice the size of its 2026 contract, to partly replace Russian oil, a government statement said on Friday.

Indian refiners are redrafting their oil import strategies, buying more oil from Middle Eastern, African and South American countries to make up for a reduction in Russian oil supplies.

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The deal between the Indian state-run refiner and Brazil's national oil company will be signed next week at the India Energy Week conference, the statement added.

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During the four-day conference beginning Jan 27, state-run Numaligarh Refinery Ltd (NRL) will also sign a preliminary deal with France's TotalEnergies (TTEF.PA) , opens new tab to build a 200 kilo tons per year sustainable aviation fuel project at Paradip in eastern Odisha state.

Additionally, NRL and explorer Oil India Ltd (OILI.NS) , opens new tab will sign a preliminary deal with TotalEnergies to buy liquefied natural gas (LNG) to meet future demand of the two Indian companies.

Separately, BharatPetro Resources Ltd - an unit of BPCL - is set to sign a pact with Shell (SHEL.L) , opens new tab to buy stakes in oil and gas companies across the world, the government statement said.

https://www.reuters.com/business/energy/india-says-state-run-bpcl-sign-oil-deal-with-brazils-petrobras-2026-01-23/