BPRL Ventures BV, an indirect wholly owned subsidiary of Bharat Petroleum , has executed definitive agreements to acquire the remaining stake in IBV Brazil Petroleo Limitada. The acquisition involves purchasing the entire shareholding held by Videocon Energy Brazil Limited (VEBL), which will result in IBV Brazil Petroleo Limitada becoming a wholly owned subsidiary of BPRL Ventures BV. The transaction is subject to necessary registration by the appropriate authorities in Brazil.

Stake Acquisition Details

Prior to the execution of these agreements, BPRL Ventures BV held a 65.40% stake in IBV Brazil Petroleo Limitada. Upon completion, BPRL Ventures BV will own 100% of the entity. The move follows an earlier intimation dated June 27, 2024, regarding the National Company Law Tribunal (NCLT) order approving the acquisition as part of the Corporate Insolvency Resolution Process of VOVL Ltd. All requisite approvals mandated by the Government of India have been received.

Strategic Significance

IBV Brazil Petroleo Limitada holds participating interests in oil and gas concessions in Brazil, including the BM-Seal-11 concession, which is currently progressing with development activities. Bharat Petroleum stated that the transaction will support the energy security of the nation.

The acquisition was intimated to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015. Further details regarding the transaction will be filed once the necessary registrations are completed.

Bharat Petroleum Corporation Ltd has secured an allocation of 100 MW in a tender issued by the Madhya Pradesh Power Management Company Limited (MPPMCL) for the purchase of wind power. The company achieved this allocation at a competitive tariff of ₹4.12 per kWh through a reverse auction conducted on June 30, 2026, as per the results published on the e-tendering portal. This move underscores BPCL's strategic intent to diversify its energy mix and strengthen its presence in the renewable sector.

Key Details of the Allocation

The reverse auction process was highly competitive, resulting in a tariff rate of ₹4.12 per kWh, indicative of prevailing market conditions for wind power procurement in the region. The allocation was formally intimated to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.

Regulatory Compliance and Disclosure

The intimation was submitted to BSE Ltd. and National Stock Exchange of India Ltd. by V. Kala, Company Secretary of Bharat Petroleum Corporation Ltd. The filing confirms that the company has met the regulatory requirements for disclosing material information related to its business operations. This allocation is expected to contribute to BPCL's long-term sustainability goals by integrating cleaner energy sources into its portfolio.