BPCL subsidiary acquires remaining 39.14% in IBV Brazil for ₹2,312 Cr

Bharat Petroleum Corporation Ltd (BPCL) announced that its indirect wholly-owned subsidiary, BPRL Ventures BV, has acquired the remaining 39.14% shareholding in IBV Brasil Petroleo Limitada. This increases BPRL Ventures BV's stake in IBV from 60.86% to 100%. The acquisition was completed on July 1, 2026, for a cash consideration of ₹2,312 Crores. IBV Brasil Petroleo Limitada, a company registered in Brazil, is involved in oil and gas exploration and production. This strategic acquisition aims to provide BPCL with access to additional equity oil and gas, thereby contributing to India’s energy security. The necessary governmental approvals from DIPAM and NITI Aayog were obtained for this transaction.