MUMBAI: Bharat PetroResources Limited (BPRL), the upstream arm of Bharat Petroleum Corporation Limited (BPCL), a Fortune Global 500 company and a Maharatna PSU, had recently completed the successful acquisition of Videocon’s entire shareholding in IBV Brasil Petroleo Limitada (IBV), its erstwhile Brazilian joint venture company. Following the acquisition, IBV became a wholly owned step-down subsidiary of BPRL and was renamed BPRL Brasil Limitada. The name change was approved and registered by relevant Brazilian authorities on August 19, 2026.
BPRL Brasil Limitada holds participating interests in oil & gas Concessions in Brazil including BM-SEAL-11 and BM-C-30 Concessions. In BM-SEAL-11, the consortium of Petrobras and BPRL Brasil Limitada is progressing with development activities. Upon commencement of production, the project has the potential to contribute approximately 1 million Tonnes of oil equivalent per annum as BPRL’s share of equity oil and gas production.
The new name heralds a new identity and marks a fresh start for BPRL, with complete focus on project development activities, armed with BPCL’s core values, ethos & brand promise. For the Brazilian market, this ushers in a message of change in ownership and a sound and stable entity to partner with.
It is worthwhile to mention that BPRL has been taking rapid strides under the Project ASPIRE of BPCL and all its investments (including Brazil & Mozambique) are on track. Currently, BPRL produces ~ 55,000 barrels of oil equivalent per day from its assets in India & Overseas, and with these investments the production is expected to significantly increase by 2031.
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