BHARAT PETROLEUM CORPORATION LTD : ACQUISITION OF IBV BRAZIL PETROLEO LIMITADA

• Details of acquisition of IBV Brazil Petroleo Limitada by BPRL Ventures BV (an indirect wholly owned subsidiary of BPCL) are enclosed. • IBV Brasil Petroleo Limitada is a company registered in Brazil, involved in exploration and production of oil and gas. • BPRL Ventures BV has increased its shareholding in IBV from 60.86% to 100%. • The acquisition provides access to additional equity oil and gas to BPCL, contributing to India's energy security. • Concurrence from DIPAM & NITI Aayog have been received for the acquisition. • Acquisition completed on 01.07.2026. • Consideration was cash. • Cost of acquisition is ₹2,312 Crores. • Percentage of shareholding acquired is 39.14%. • IBV holds participating interests in oil and gas concessions in Brazil.

Bharat Petroleum Corporation Ltd

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