Bharat Petroleum (NSE:BPCL, BOM:500547) is preparing to raise as much as $3 billion through an international bond sale, with the proceeds expected to be raised in multiple tranches to fund the company's $2.8 billion share of the SEAP‑I offshore oil project in Brazil, Bloomberg reported.

Investor roadshows were recently held in Dubai, London and Singapore to gauge demand ahead of the offering. The project is led by Petrobras, which holds a 60% stake, while IBV Brasil Petroleo owns the remaining 40%,the report said.

Bharat Petroleum, which controls 65.4% of IBV Brasil Petroleo via its Bharat PetroResources unit, did not immediately respond to MT Newswires' request for a comment.

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