Business News | Brazil's Petrobras Looking to Partner with Indian Oil Firms for Trade, Energy Cooperation Says Its CEO

New Delhi [India], February 12 (ANI): Brazil's state-run oil company, Petrobras, is looking to strengthen ties with Indian oil firms by exploring opportunities for trade and collaboration.

The company aims to buy and sell petroleum products from India while also working together in the field of energy transition.

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Meanwhile, Oil India Limited (OIL), a Maharatna CPSE energy company in India, on Tuesday signed a Memorandum of Understanding (MoU) with Petrobras during the India Energy Week (IEW) 2025 in New Delhi, to collaborate in the exploration and production of hydrocarbon resources in India's offshore regions.

Petrobras CEO Magda Chambriard, in an exclusive conversation with ANI, said that her visit to India is an opportunity to understand the country's developments in the oil, gas, and energy transition sectors.

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She emphasized that Petrobras, as a state-owned petroleum company in Brazil, is keen on forming partnerships with Indian state-run oil companies to enhance cooperation between the two nations.

"We are willing to look at the possibilities India is offering...and also look at opportunities to sell and buy products from India, and to cooperate as well in terms of ethanol, biodiesel, petcoke and lots of different products that are becoming greener each day," Chambriard said.

The collaboration could help both countries advance in sustainable energy solutions and boost bilateral trade in the oil sector.

She stated this on the sidelines of the India Energy Week 2025 which is being held from February 11-14 at Yashobhoomi in the national capital.

Petrobas CEO further said, "It is an opportunity to be here in India and see what they are doing, in terms of oil, gas and transitional energy. We, as a state petroleum company in Brazil, wanted to be here and strike partnerships and see how Petrobras and Indian state companies can cooperate and how Brazil can cooperate with India".

India is one of the world's largest importers of crude oil and has been strengthening its energy ties with various global suppliers. If Petrobras and Indian oil companies enter into an agreement, it could pave the way for a more diversified energy trade between India and Brazil, benefiting both economies. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)