India's Bharat Petroleum Corp Ltd (BPCL) will sign a $780 million contract with Brazil's Petrobas during the country's flagship energy event, India Energy Week (IEW), in Goa next week, Petroleum Minister Hardeep Singh Puri announced on Friday.
"A $780 million term contract for supply of $12 million barrels of Brazilian crude between BPCL and Petrobas," the minister said at a press conference in New Delhi.
Puri also highlighted that the world was going through headwinds and India was the key energy market to watch out for, given the enormous size and growth of its economy.
"Global energy markets are going through a huge change. India is the place to watch out for on Sustainable Aviation Fuel (SAF)," he added.
The four-day India Energy Week commences in the coastal state of Goa on January 27.