Sao Paulo, Brazil: Brazil, which has emerged as a major oil supplier to India, has indicated its willingness to further ramp up shipments, with New Delhi continuing efforts to diversify its crude sourcing amid shipping disruptions in the Gulf due to the Iran war.Supplies from Brazil doubled to 275,000 bpd in April from 137,000 bpd in March. As part of the diversification efforts, state-run BPCL signed a one-year deal with Brazil's state-owned Petrobras in February for purchasing 12 million barrels of crude oil in FY27, people said.India is also exploring a proposal to allow ONGC Videsh Ltd (OVL) to invest up to $1.17 billion in Brazil's offshore BM-SEAL-4 block. Separately, Brazil has proposed a major partnership, offering increased crude supplies in exchange for Indian investment in Brazil's refining sector and sharing India's downstream expertise, people in the Brazilian government told ET.Notably, Brazil is India's largest upstream investment destination in the Americas and the third largest investment destination globally. Indian PSUs OVL and BPRL have cumulatively invested $3.5 billion in Brazil's upstream sector.Brazil's foreign ministry is in regular touch with its Indian counterpart for enhancing oil exports as part of a broader expansion of bilateral strategic ties including in sectors such as defence, digital public infrastructure, critical minerals, energy transition, besides closer coordination in the BRICS.Resource-rich Brazil primarily exports "medium-sweet" crude options like Tupi and Buzios, which have low sulfur content and yield high-value diesel and jet fuel, making them desirable for India's refining capacities.
Brazil ready to ramp up crude supplies to India as Iran war disrupts gulf flows
Brazil is ready to increase oil supplies to India. This comes as India seeks to diversify its crude sources due to shipping issues. Brazil's oil exports to India have already doubled. India is also considering investments in Brazil's offshore oil blocks. Brazil wants Indian investment in its refining sector in return for more crude.







