India’s BPCL plans $3 billion bond sale to fund Brazil oil bet

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Bharat Petroleum Corp. plans to raise up to $3 billion through international bonds, mainly funding its $2.8 billion contribution to Brazil’s SEAP-I offshore project and refinancing debt. The move supports India’s push to diversify crude supplies amid geopolitical disruptions. BPCL’s Brazil investment highlights growing interest in South American energy assets.