Bharat Petroleum Corporation’s (BPCL) indirect wholly owned subsidiary -- BPRL Ventures BV has acquired 39.14% stake in IBV Brasil Petroleo Limitada (IBV) for a consideration of Rs 2,312 crore. Post this acquisition, the BPRL Ventures BV’s shareholding in IBV has increased from 60.86% to 100%.
IBV is a company registered in Brazil and is involved in exploration and production of oil and gas. The acquisition provides access to additional equity oil and gas to the company thereby contributing to India’s energy security.
Bharat Petroleum Corporation is a leading Oil and Gas company, providing services to both retail and bulk customers.
