BPRL Ventures BV, a step-down subsidiary of BPCL, has increased its shareholding in IBV Brasil Petroleo Limitada, an oil and gas exploration company, from 60.86% to 100% in a ₹2,312 crore deal. It has acquired Videocon Energy Brazil's 39.14% shareholding in the company. "Acquisition provides access to additional equity oil and gas to BPCL…contributing to India’s energy security," BPCL said.