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BPCL prepares $3 billion bond for Brazil offshore oil project
The Bharat Petroleum Corporation Limited offering is planned in several tranches, after BPCL held roadshows in London to raise the funding.
Indian state-owned refiner Bharat Petroleum Corporation Limited is preparing to issue a $3 billion bond to fund its share of a major offshore oil development in Brazil, OilPrice reports.
The company plans to raise the amount via several tranches and has already held roadshows in London as part of the bond sale process, according to the report.
The move comes as Indian energy companies expand their international upstream presence to help secure crude oil supplies, the outlet said.
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