Page 4 - Bharat Petroleum Corporation

Bharat Petroleum to invest Rs 5,044 cr in PP plant at Kochi refinery

The 400,000 tonnes per annum polypropylene unit will be constructed in about 46 months from the date of the investment approval, the company said in a statement

Tata Motors subsidiary, Bharat Petroleum tie up for 7k charging stations

Tata Passenger Electric Mobility Ltd on Friday said it has entered into a collaboration with Bharat Petroleum Corporation Ltd to set up 7,000 charging stations. The two companies have signed a memorandum of understanding to collaborate in establishing public charging stations across India, Tata Passenger Electric Mobility (TPEM) said in a statement. The collaboration will leverage Bharat Petroleum Corporation's widespread fuel stations network and TPEM's insights from over 1.15 lakh Tata EVs on Indian roads, to set up chargers at locations frequently visited by Tata EV owners, it added. Bharat Petroleum Corporation Ltd (BPCL) aims to install 7,000 electric vehicle charging stations by the next year and it has initiated over 90 electric vehicles (EV) fast-charging highway corridors across the nation, the statement said. The collaboration with BPCL is aimed at accelerating India's journey towards e-mobility, Tata Motors Passenger Vehicles Ltd and Tata Passenger Electric Mobility Ltd

Kerala govt gives approval for BPCL's waste treatment plant in Kochi

The Kerala government on Wednesday accorded sanction to set up a compressed biogas plant project by Bharat Petroleum Corporation Limited (BPCL), with the objective of finding a permanent solution to the organic waste issue in Kochi, the commercial hub of the state. A cabinet meeting, chaired by Chief Minister Pinarayi Vijayan, took the decision amidst their ongoing tour as part of the 'Nava Kerala' outreach programme in northern Thalassery, a CMO statement said here. For the project, 10 acres of land in Brahmapuram owned by the Kochi Corporation, would be handed over to the BPCL, it said. A treatment plant capable of treating 150 metric tonnes of waste per day would be set up on this land, and the compressed biogas produced there would be used by the central PSU. The construction cost is estimated to be Rs 150 crore, which would be borne by the BPCL, it said. Water and electricity, required for the construction of the plant, would be provided at a lower cost, the CMO statement ...

BPCL targets expanding retail network by 14,273 pumps to tap growing demand

As the demand for petrol and diesel continues to rise due to new vehicle sales, BPCL is moving ahead with its fuel network expansion plans

No phones, cards needed, your car can pay for its fuel and Fastag directly

The service can be availed by linking the Unified Payments Interface (UPI) with the car's infotainment system, thus eliminating the need for a smartphone to make payments

BPCL reports profit after tax at Rs 10,644 crore in Q1, beats estimates

Company recorded a loss of Rs. 6,148 crore in the year-ago period

As Russian discounts erode, Indian oil refiners may shift back to the Gulf

Iraq and UAE are willing to offer credits for longer periods of time, and they are also located closer to the Indian shores

Bharat Petroleum Corporation to raise Rs 18,000 cr via rights issue

State-owned Bharat Petroleum Corporation Ltd (BPCL) on Wednesday said it will raise up to Rs 18,000 crore through an issue of equity shares on a rights basis to fund its net zero carbon emission projects. The government, which is the majority owner of the company, is likely to subscribe to the rights issue and infuse equity in the company. This as per the Budget announcement will provide Rs 35,000 crore of capital support to state-run fuel retailers -- BPCL, Indian Oil Corporation (IOC), and Hindustan Petroleum Corporation Ltd (HPCL) -- to support their energy transition and net zero initiatives. IOC and HPCL are likely to come up with similar schemes to get government capital. In a stock exchange filing, BPCL said its board at a meeting held on Wednesday "approved the proposal for raising capital up to an amount not exceeding Rs 18,000 crore. This capital will be raised by way of issue of equity shares on rights issue basis to eligible equity shareholders of the corporation as on t

Analysts cautious on OMCs; fuel price cut, uneven oil demand key overhangs

According to ICICI Securities, OMCs will have to adjust retail prices by Rs 0.53/litre to maintain margins at current levels, if international prices change by $1/barrel

After RIL-bp, Nayara Energy sells petrol, diesel at Re 1 less than PSUs

After Reliance Industries Ltd and its partner bp plc of the UK, Nayara Energy - the nation's largest private fuel retailer - has started selling petrol and diesel at Re 1 less than the fuel sold by state-owned retailers, officials said. While state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) continue to hold prices despite a drop in international rates, private fuel retailers have started passing on the benefit to consumers. "To further stimulate domestic consumption and cater to local customers better, we have introduced a Re 1 discount in our retail outlets until the end of June 2023," a spokesperson for Nayara Energy said. "We believe in being a strong partner to India's energy needs and will continue to serve the country's consumption demand." Nayara Energy, which owns over 7 per cent of India's 86,925 petrol pumps, is selling petrol and diesel at Re 1 per litre less than that by IOC, BPCL and HPCL in

OMCs extend gains on improved operational performance; IOC hits 52-wk high

In the past six months, IOCL (up 28%), HPCL (up 22%) and BPCL (up 19%) have outperformed the benchmark S&P BSE Sensex index

Rosneft planning to build greenfield refinery in India with state refiners

Indian Oil Corporation and Bharat Petroleum are expected to be likely candidates for the JV

As CNG and EVs expand in cities, fuel retailers look at the rural market

In the last three financial years, 88 per cent of the 16,190 new fuel pumps set up by Indian Oil, Hindustan Petroleum, and Bharat Petroleum were located in rural areas and highways

Bharat Petroleum gets MP state government approval for refinery expansion

Bharat Petroleum will invest 430 billion rupees ($5.27 billion) to 500 billion rupees for the two projects, adding that the petrochemical project would start production by fiscal year 2027-28

BPCL Q3 results: Net profit falls 36% to Rs 1,747 cr, revenue up 13%

BPCL's market sales for the December quarter stood at 12.81 MMT versus 11.21 MMT reported last year

India's crude import basket at 10-month low but pump prices to remain high

Fear of worsening economic slowdown in China has dealt the latest blow to global crude oil, with daily prices falling to their lowest since January 4, 2022

Analysts see a ray of hope for oil marketing firms after a difficult Q2

Although the Indian crude basket fell from an average of $109.5 per barrel in Q1 to an average of $97.87 a barrel in Q2, prices remained high in absolute terms

Govt okays Rs 22,000 crore one-time grant for OMCs to battle losses

This will help them tide over continuing losses in providing domestic liquified petroleum gas

IOC, HPCL, BPCL may post 2nd consecutive quarterly loss in July-Sept

State-owned oil marketing companies IOC, BPCL and HPCL may for the first time ever post the second consecutive quarterly loss with a combined loss of Rs 21,270 crore in July-September, on holding petrol and diesel prices below the cost of production. The three state-owned firms -- Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), had in the first quarter of the current fiscal year (April-June) posted a combined loss of Rs 18,480 crore due to erosion in the marketing margin on petrol, diesel and domestic LPG. "The three oil marketing companies IOC, BPCL and HPCL remain trapped in the quagmire of weak marketing losses and there is not enough traction in refining margins," ICICI Securities said in a sector report. The three firms are to announce second quarter earnings later this month or in early November. In the first quarter, record refining margins were wiped away by losses booked on not revising petrol and diesel

Indian oil refiners scout for term deals ahead of EU's ban on Russian crude

Indian state refiners plan to lock-in more of their crude supplies in term deals, worried that tighter Western sanctions on Russia, including from the EU