Last month the Cabinet Committee on Economic Affairs approved an additional investment of $1,600 million (about ₹12,000 crore) by Bharat PetroResources (BPRL), an arm of BPCL, in a concession project in Brazil. BPRL owns a 40% participating interest in the Sergipe Alagoas concession, while Petrobras, the national oil firm of Brazil, holds 60%.from Industry-Economic Times
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