India Energy Week 2026, starting 27 January in Goa, will host the signing of a USD 780 million crude oil contract between Bharat Petroleum Corporation (BPCL) and Brazil’s Petrobras, along with significant shipbuilding agreements, Business Standard reported.

BPCL will purchase 12 million barrels of crude for the 2026-27 fiscal year, doubling its previous annual supply from Petrobras. This forms part of India’s strategy to diversify crude procurement, which now spans 41 countries, up from 27 in 2007, as refiners seek alternatives to Russian oil following US sanctions. The four-day conference at ONGC’s Advanced Training Institute will also see ONGC and its Japanese partner Mitsui OSK Lines sign contracts with Samsung Heavy Industries to build two very large ethane carriers for transporting US ethane to ONGC’s petrochemical facility in Dahej, Gujarat, from around 2028.

Additional agreements include collaborations between BharatPetro Resources and Shell, and Numaligarh Refinery and TotalEnergies on sustainable aviation fuel and LNG projects. The event is expected to attract over 75,000 delegates, including ministers from 17 countries.