Page 2 - Bharat Petroleum

BPCL ready to invest Rs 1 trn in Andhra Pradesh: Industries minister Bharat

Andhra Pradesh Industries Minister TG Bharat on Wednesday said Bharat Petroleum Corporation Ltd (BPCL) is ready to invest Rs 1 lakh crore in the state, which could include the setting up of an oil refinery. The Industries Minister accompanied a BPCL delegation led by its chairman and managing director G Krishna Kumar to meet Chief Minister N Chandrababu Naidu at the Secretariat in Amaravati on Wednesday. According to Bharat, BPCL officials told Naidu that the company is ready to invest massively in the state and discussed primarily about setting up an oil refinery. "BPCL is ready to invest Rs 1 lakh crore in the state. Initially, it will invest between Rs 50,000 crore and Rs 75,000 crore," said Bharat in an official press release. Later, the oil marketing major is keen to raise its investments to Rs 1 lakh crore, he said, adding that BPCL is looking at three places to zero in on the probable location to set up the oil refinery. After 90 days, the minister noted that BPCL delegatio

Bharat Petroleum, Vitol Asia among eight bidders for Sri Lanka LPG terminal

Litro holds the largest market share in Sri Lanka's duopoly LPG market that is mostly focused on domestic gas supplies

Bharat Petroleum seeks Rs 31,000 crore loan for Bina refinery expansion

SBI Capital Markets has been appointed to secure the loan required for Bina refinery expansion, which is estimated to cost nearly Rs 20,000 crore

BPCL Q4 results: Consolidated net profit falls 30% to Rs 4,789 crore

The reduction in net profit in Q4 may have been due to lower gross marketing margins on petrol and diesel

Bharat Petroleum to lay 35-km ATF pipeline from Piyala to Noida airport

Noida International Airport on Tuesday said Bharat Petroleum Corporation Ltd will lay a 35-km dedicated aviation turbine fuel (ATF) pipeline from its Piyala Terminal to the tank farm at the airport in Jewar. The airport and the BPCL have entered into an agreement, signed on February 20, for the work to efficiently meet the airport's ATF demand while reducing carbon emissions, it said in a statement. BPCL's Piyala terminal is located in Faridabad, Haryana. The dedicated ATF pipeline will span over 34 km, and will further extend by 1.2 km within the airport premises, Noida International Airport said. "Once operational, this pipeline will operate on a common/contract carrier basis, ensuring seamless fuel transportation to the airport," it said. "Aligned with Noida International Airport's commitment to environmental stewardship, this common-use fuel transportation pipeline will ease fuel receipt operations and mitigate emissions by eliminating the need for tank lorry movements," it ..

RVNL's order book touches Rs 65,000-cr mark, plans to add foreign projects

Public Sector Undertaking RVNL's order book has touched Rs 65,000 crore, 50 per cent of which are railway projects, the company has said. RVNL is also looking for new projects in off-shore markets including Central Asia and UAE and Western Asia, the management said in an investors call. "We have got an order book of around Rs 65,000 crore, which roughly constitutes 50 per cent from the nomination, that is the typical railway projects, and 50 per cent from the market. In time to come, we should maintain an order book of around Rs 75,000 crore," top management officials said in reply to a question. Of the total order book, the share of the Vande Bharat trains was around Rs 9,000 crore, and Rs 7,000 crore was for several metro projects. The company has also bagged projects in the electrification and transmission lines among others. RVNL is also diversifying to other segments and eyeing many projects in the foreign countries, they said. On growth plans in offshore markets, the managem

BPCL Q3 results: Net profit jumps 82% on higher refining, sales margins

State-owned Bharat Petroleum Corporation Ltd (BPCL) on Monday reported an 82 per cent jump in its December quarter net profit on the back of higher-than-expected refining margins and a rise in margins on fuel sales. Its consolidated net profit of Rs 3,181.42 crore in October-December - the third quarter of the current fiscal year, stated on April 1, 2023 - compares to Rs 1,747.01 crore earnings in the same period of the previous financial year, according to a company statement. Its profit was, however, lower than Rs 8,243.55 crore earnings in the preceding quarter (July-September 2023). The continuing freeze in fuel prices, which is now 21 months old, despite a fall in input raw material (crude oil) prices helped raise marketing margins. BPCL earned an estimated USD 13.3 on turning every barrel of crude oil into fuel like petrol and diesel during October-December. Pre-tax earnings from fuel marketing soared to Rs 4,372.93 crore in the third quarter from Rs 2,618.95 crore a year ba

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

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

India's Bharat Petroleum to raise $2.19 billion in green energy push

State-owned oil marketing company Bharat Petroleum said it approved raising up to 180 billion rupees through an issue of equity shares on a rights basis

BPCL unveils Rs. 49,000 cr petrochemical project at Mumbai's Bina Refinery

Bharat Petroleum Unveils Ambitious Rs. 49,000 Crore Petrochemical & Capacity Expansion Project at Bina Refinery

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

Bharat Petroleum launches 19 EV fast-charging stations at 110 fuel stations

BPCL, a Maharatna and a Fortune Global 500 company, today announced the launch of 19 EV fast-charging stations at 110 fuel stations along 15 highways in Karnataka, Kerala and Tamil Nadu

G Krishnakumar takes over as Bharat Petroleum Corporation's chairman

G Krishnakumar has taken over as the new chairman and managing director of Bharat Petroleum Corporation Ltd (BPCL), the company said on Friday. Krishnakumar, an electrical and electronics engineer from National Institute of Technology, Tiruchirappalli and a postgraduate in finance management from Jamnalal Bajaj Institute of Management Studies, Mumbai, was executive director in the company before his elevation. Government headhunter, the Public Enterprise Selection Board (PESB) had, in December last year, picked up Krishnakumar over company's Director (Finance) Vetsa Ramakrishna Gupta, Director (Refineries) S Khanna, and Director (Marketing) Sukhmal Kumar Jain. A company statement said Krishnakumar has taken over as the chairman and managing director of the company. "He is an avid quizzer and a voracious reader. He is also a passionate cricket fan and a golfer," it said. Krishnakumar replaces Arun Kumar Singh, who retired as chairman in October 2022. Post that, Gupta was holding ..

Petronet LNG Q2 results: Net profit down 10%, but turnover highest

The company is currently expanding capacity by 9 million tonnes at its LNG terminals in Dahej, and Kochi

One in every 10 petrol pumps in India now offering CNG, EV charging

India has about 84,600 fuel retail outlets, of which 8,900 offer alternative fuels such as CNG, auto LPG or EV charging facilities

LIC buys over 2% stake in Bharat Petroleum for nearly Rs 1,598 crore

LIC has acquired over a 2 per cent stake in state-owned refiner Bharat Petroleum Corporation Ltd (BPCL) for nearly Rs 1,598 crore since December last year. The state-owned life insurance behemoth in a regulatory filing on Tuesday said its shareholding in BPCL has increased from 15,25,08,269 to 19,61,15,164 equity shares, increasing its shareholding from 7.03 per cent to 9.04 per cent of the paid-up capital of the company. As per Sebi's regulatory norm, listed companies have to disclose shareholding in excess of 2 per cent. BPCL has a market capitalisation of Rs 67,301 crore, which is in the refining of crude oil and marketing of petroleum products. "There is an increase of more than 2 per cent in the holding during the period from December 28, 2021, to September 26, 2022," LIC said. The shares were purchased in the ordinary course of the transaction through the open market at an average cost of Rs 336.43 per share. Shares of LIC closed 0.28 per cent down at Rs 629.05 apiece on BS

Adani Enterprises, scarcely tracked by brokerages, set to enter Nifty 50

Coverage may improve as more funds start chasing the stock, say market experts

BPCL teams up with Microsoft to leverage cloud, AI technologies

Bharat Petroleum Corporation Ltd (BPCL) and Microsoft have entered a strategic cloud partnership aimed at accelerating the firm's digital transformation and driving innovation in the oil and gas industry. According to a joint statement, the collaboration seeks to unlock the opportunities that Microsoft's cloud provides to address the unique challenges of the oil and gas sector, enabling BPCL to accelerate the modernisation of its tech architecture. This, in turn, will enhance and redefine customer experience. Through a seven-year collaboration, Microsoft will provide infrastructure as a service (IAAS), platform as a service (PAAS), network and security services on the cloud, including Azure native services on Azure Datafactory, IOT (Internet of Things) and analytics. "The partnership gives a strong fillip to BPCL's digital-first strategy, as part of 'Project Anubhav' to redefine customer experience through the pillars of trust, personalization, and convenience," it said. Microsoft'

BPCL to invest Rs 200 cr to set up 100 fast EV charging corridors

The company has recently opened its first EV charging corridor along the Chennai-Trichi-Madurai highway with one charging unit