The Indian government has announced several significant developments in the energy sector, which will be formalized during the upcoming India Energy Week conference. One of the key announcements is the collaboration between Numaligarh Refinery Ltd (NRL) and France’s TotalEnergies to set up a sustainable aviation fuel (SAF) project in Paradip, Odisha. The project is expected to have a capacity of 200 kilotonnes per year, and a preliminary agreement is expected to be signed during the conference.
In addition to the SAF project, NRL and Oil India Ltd will also enter into a preliminary agreement with TotalEnergies for the purchase of liquefied natural gas (LNG) to meet their future demand. This agreement is expected to help the companies secure a stable supply of LNG and reduce their dependence on other sources of energy.
Another significant development is the agreement between Bharat Petroleum Corp Ltd (BPCL) and Brazil’s Petrobras for the purchase of 12 million barrels of crude oil. The deal, worth $780 million, is scheduled to be signed during the conference and is part of India’s efforts to diversify its crude oil imports and reduce its dependence on Russian oil. This is a significant increase from the 2026 contract, and it reflects India’s growing demand for crude oil.
Indian refiners are revising their crude import strategies in response to the reduced availability of Russian oil. They are increasing purchases from the Middle East, Africa, and South America to offset the shortfall. The agreement between BPCL and Petrobras is a key part of this strategy, and it is expected to help India secure a stable supply of crude oil.
Finally, Bharat PetroResources Ltd, a unit of BPCL, is set to sign an agreement with Shell to acquire stakes in oil and gas companies globally. This agreement is expected to help the company expand its presence in the global energy market and secure new sources of energy. Overall, these developments reflect India’s growing importance in the global energy market and its efforts to secure a stable and diverse supply of energy.