Several major Oil and Gas Agreements are expected to be finalized during the upcoming India Energy Week (IEW) 2026, Union Minister of Petroleum and Natural Gas Hardeep Singh Puri has said. The annual flagship energy event will be held in Goa from January 27 to 30, bringing together industry leaders and global partners to drive collaboration and investment in the energy sector.
One of the key commercial agreements set to be signed at the conference is a crude oil purchase contract between Bharat Petroleum Corporation Limited (BPCL) and Brazil’s state-owned Petrobras. Under the deal, BPCL will procure 12 million barrels of crude oil valued at around $780 million for supply in the coming fiscal year.
In addition to the oil supply pact, a preliminary agreement is expected to be signed involving Oil India Ltd (OIL), Numaligarh Refinery Ltd (NRL) and TotalEnergies for the sourcing of liquefied natural gas (LNG). The LNG collaboration aims to secure future fuel requirements and strengthen supply chains.
During the four-day energy week, BPCL’s upstream unit Bharat PetroResources Ltd (BPRL) is also scheduled to enter into a memorandum of understanding with Shell to explore global upstream exploration and production opportunities, according to the minister.
Another deal expected to be formalised is a collaboration between NRL and TotalEnergies to set up a sustainable aviation fuel (SAF) project at Paradip in Odisha, with a proposed annual capacity of 200,000 tonnes.
State-owned Oil and Natural Gas Corporation (ONGC) is also planning to sign agreements related to its shipping ventures with Japan’s Mitsui O.S.K. Lines and South Korea’s Samsung Heavy Industries.
According to Puri, the deals highlight India’s efforts to expand energy partnerships, diversify fuel supplies, and support energy security through strategic international cooperation. India Energy Week is expected to draw participation from ministers, industry executives and delegates from several countries, reinforcing India’s role as a key hub for global energy dialogue and investment.
