BPCL agrees to match Brazilian companies’ bids for two VOVL Oil assets
BPCL’s subsidiary BPRL Ventures BV had entered into a 50:50 joint venture with Videocon’s subsidiary Videocon Energy Brazil for oil and gas exploration in the South American country. As a JV partner, it has the first right to match any offer that lenders receive for VOVL oil basins as per the contractual arrangements governed by Brazilian law.
