Bharat Petroleum Corporation Ltd (BPCL) operates in the petroleum industry in India. The company operates in a single segment - Refinery and Marketing activities which includes Downstream petroleum sector. They are also engaged in the Exploration and Production of Hydrocarbons (E&P). BPCL on a regular basis imports their LPG requirements mainly from the Middle East. Occasional there are import requirements of Gasoil Kerosene Gasoline and Base Oil. The company refineries consist of Mumbai Refinery Kochi Refinery Numaligarh Refinery and Bina Refinery. BPCL exports Fuel Oil and Naphtha and Base Oil (Group II). BPCL is a public sector undertaking with the Government of India holding 54.93% stake as on 30 September 2017. On 11 September 2017 Government of India conferred BPCL with Maharatna status. Bharat Petroleum Corporation Ltd was incorporated on November 3 1952 as a private limited company with the name Burmah Shell Refineries Ltd. The company began their work on the marshland of Trombay at Bombay. The refinery on 454 acres of land at village Mahul went on-stream on 30th January 1955 one year ahead of schedule. In January 24 1976 Burmah Shell Group of Companies was taken over by the Government of India to form Bharat Refineries Ltd. In August 1 1977 the company was renamed as Bharat Petroleum Corporation Ltd. The company was also the first refinery to process newly found indigenous crude (Bombay High) in the country.During the year 2001-02 the company commissioned the Gas Turbine and Heat Recovery Steam Generator project at a cost of Rs.1750 million. Refinery Modernization Project was being implemented at a cost of Rs 18310 million. This project besides improve distillate yield and energy efficiency of the company. The company had Allied Retail Business (ARB) also apart from the regular business making them not only the largest non-fuel revenue generator in the oil industry but also amongst the leading retail networks in the country offering a basket of services ranging from C-stores Quick Service Restaurants to financial and travel related services.The total of 8 numbers of In & Out convenience stores made up the 'millionaire club' by clocking average sales of Rs 1 million per month. Automatic Teller Machines (ATMs) continued by the company to be a focus area in the ARB initiative under the alliance management strategy. The 222 ATMs in the network are the result of alliances with 22 banks. Given the rapid growth of the travel industry in the country and especially personal travel the company launched 'In & Out e-Traveller' a one-stop facility for all travel and hospitality needs in during year of 2006-07. The In & Out eTraveller is an e-ticketing / e-booking facility for rail air and bus tickets and hotel accommodation brought through a web of alliances with best in breed travel service providers. During the year 2009-10 the Mumbai refinery processed the Nigerian crude oil - Agbami for the first time. The company started operations at its Bina refinery in the central Indian state of Madhya Pradesh by launching their crude distillation unit or CDU. The CDU at Bina was commissioned on June 29 2010. Kerosene and cooking gas have been despatched to the marketing terminal. An oil refinery's CDU is the main unit where crude is separated into different petroleum products.In August 2010 Indian Oil Corporation Ltd Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Limited entered into a memorandum of understanding (MoU) with Gujarat State Petroleum Corp Ltd to form a joint venture for trunk gas pipelines. In February 2011 the company signed an initial agreement with the provincial government of Rajasthan to sell fuel products from the state's proposed refinery. The company will sell at least 75% of the volume of the products from the proposed Rajasthan refinery under the agreement.In July 2011 the company sold a rare naphtha cargo from Haldia to Vitol at steep discounts of $63.00 a tonne to Middle East quotes on a free-on-board (FOB) basis and the refiner may have more of such cargoes for sale.In 2011 tyre manufacturer Goodyear India entered into an agreement with PSU major Bharat Petroleum Corporation Ltd to open tyre care shops at some of their petrol pumps. BPCL discovers of oil and gas in Sergipe-Alagoas Basin Brazil.In 2012 -BPCL's another major appraisal success in Offshore Mozambique for BPRL. BPCL also conducts Successful Flow Test Offshore Mozambique. BPCL invests Rs 75 cr to set up 22 kV substation at Kochi Refinery. Bharat Petroleum Corporation Ltd. has signed an MOU with LG Chem South Korea for a Joint Venture to set up a petrochemical plant adjacent to its Kochi Refinery Complex. The company makes discovery of hydrocarbons in Espirito Santo Bash Offshore Brazil and Cauvery Onland in Tamil Nadu. The company signs a Memorandum of Understanding (MoU) with Kerala government. Following the development the state government would extend tax deferments to BPCL's Integrated Refinery Expansion Project (IREP) and petrochemical complex. Bharat Petroleum Corporation Ltd (BPCL) is in plans for investments of up to Rs 45000 crore by 2017 towards upstream projects as well as downstream expansion. BPCL discovers New oil in the deep water of Sergipe - Alagoas Basin BrasilIn 2013 Petrobras completes formation test in Farfan area in Sergipe-Alagoas Basin Brazil. BPRL announces new natural gas discovery in offshore Mozambique. Bharat gas introduces IVRS to book gas refill services. BPCL begins IVRS refill booking system in Kerala In 2014 Bharat Petroleum - BPRL announces Increase in Recoverable Natural Gas Resources in Mozambique. Gas Discovery in Cauvery Basin India by ONGC - BPRL Consortium.In 2015 Bharat Petroleum Corporation Limited (BPCL) received approval from Environment Ministry for Rs 4588 crore expansion at its refinery facility. BPCL along with GAIL Gas a 100% subsidiary of GAIL India will jointly develop the City Gas Distribution Network (CGD Network) in Haridwar district. BPCL also commissions a new art Crude Distillation Unit (CDU) in Mumbai.On 29 May 2015 BPCL announced that it had acquired additional 1.99 crore equity shares of Petronet CCK Limited (PCCKL) constituting 19.97% of the paid-up capital of PCCKL from a financial investor of PCCKL. Post the acquisition of additional shares BPCL's holding in PCCKL went up to 68.97%.In November 2015 a consortium of Bharat Petroleum Corporation Ltd (BPCL) and GAIL Gas Ltd was awarded the authorization for laying building operating and expanding of a City Gas Distribution Network (CGD Network) in the Geographical Area of Haridwar district by the Petroleum and Natural Gas Regulatory Board established under the PNGRB Act 2006. On 31 December 2015 BPCL announced that it had entered into a binding Gas Sale and Purchase Agreement (GSPA) with Petronet LNG Limited (PLL) for the procurement of an additional 0.1 MMTPA of RLNG with effect from January 2016. On 18 February 2016 BPCL announced that it had purchased 50% of financial institutions' holding in Sabarmati Gas (SGL) thereby raising its stake in SGL to 49.9%. SGL is a city gas distribution company involved in the supply of CNG to the transport segment and PNG to consumers in the domestic commercial and industrial segments. On 26 May 2016 the Board of Directors of BPCL recommended the issue of bonus shares in the ratio of 1:1. On 29 July 2016 BPCL announced that it had entered into an agreement for acquiring 21% stake in the share capital of FINO PayTech Limited for a consideration of Rs 251 crore in an all cash deal. FINO PayTech is a payments technology solutions provider to banks financial institutions and MFIs.Bharat PetroResources Limited (BPRL) a 100% subsidiary of Bharat Petroleum Corporation Limited (BPCL) and its exploration and production arm along with Oil India Limited and Indian Oil Corporation Limited acting jointly as the Indian Consortium through a joint venture company formed by their wholly owned subsidiaries in Singapore completed on 5 October 2016 two transactions viz. acquisition of 23.9% shares of the charter capital of JSC Vankorneft a company organised under the laws of the Russian Federation which is the owner of Vankor and North Vankor Field licenses from Rosneft Oil Company (Rosneft) a National Oil Company of Russia; and acquisition of 29.9% of the participatory share in charter capital of LLC Taas Yuryakh Neftegazodobycha (TYNGD) from LLC RN Razvedka I Dobycha a wholly owned subsidiary of Rosneft. TYNGD which has onshore fields in East Siberia is currently producing about 20000 bopd which is expected to be ramped up to about 100000 bopd by 2021.In November 2016 a consortium of Bharat Petroleum Corporation Ltd (BPCL) and GAIL Gas Ltd was awarded the authorization for laying building operating and expanding of a City Gas Distribution Network (CGD Network) in the Geographical Area of North Goa in the state of Goa by the Petroleum and Natural Gas Regulatory Board established under the PNGRB Act 2006. Bharat Petroleum Corporation Limited Indian Oil Corporation Limited and Hindustan Petroleum Corporation Limited signed a Consortium Agreement on 7 December 2016 to carry out pre-project activities for setting up of a West Coast Refinery & Petrochemical project of approximately 60 MMTPA capacity in Maharashtra through a Joint Venture Company.On 16 January 2017 the Board of Directors of BPCL gave in-principle approval for the merger of Petronet CCK Ltd. (PCCKL) a wholly owned subsidiary of BPCL with BPCL. PCCKL owns and operates 292 Km long multi product Kochi-Coimbatore-Karur pipeline with a throughput capacity of 3.3 MMTPA which is used for evacuation of BPCL's Kochi Refinery products. The Board of Directors of BPCL at its meeting held on 29 May 2017 recommended issue of fully paid bonus shares in the ratio of 1:2.On 25 September 2017 Asia's largest single mounded LPG storage facility was inaugurated at BPCL's Kochi refinery. The facility was constructed at an investment of Rs 170 crore as part of the Integrated Refinery Expansion Project of BPCL at Kochi Refinery.