BPCL Subsidiary Acquires 100% Stake in IBV Brazil for ₹2,312 Cr

Bharat Petroleum Corporation Ltd (BPCL) announced through its indirect wholly owned subsidiary, BPRL Ventures BV, the acquisition of the remaining 39.14% stake in IBV Brazil Petroleo Limitada (IBV). This acquisition increases BPRL Ventures BV's shareholding in IBV from 60.86% to 100%. The deal, completed on July 1, 2026, involved a cash consideration of ₹2,312 Crores. IBV is involved in the exploration and production of oil and gas in Brazil. This strategic move aims to provide BPCL with access to additional equity oil and gas, contributing to India's energy security. Concurrence from DIPAM and NITI Aayog has been received for the acquisition.