Page 10 - Bpcl

BPCL Q4 results: Net profit rises 159% to Rs 6,478 cr, revenue up 8%

The average gross refining margin for FY23 rose to $20.24 per barrel as against $9.66 a barrel in FY22

Tata Steel Mining signs MoU with BPCL to get LNG for Odisha plant

In an attempt to secure long-term supply of liquified natural gas for its ferroalloys plant located in Odisha's Jajpur, Tata Steel Mining Ltd (TSML) has signed a memorandum of understanding with Bharat Petroleum Corporation Ltd (BPCL). As per the MoU signed here on Thursday, central PSU BPCL will supply the agreed quantity of natural gas through its pipeline to the ferroalloys plant at Jajpur, said TSML, a 100 per cent subsidiary of Tata Steel in a statement. It said that the agreement is a part of TSML's sustainability initiatives and it will aid the business in significantly reducing its carbon footprint because it will allow it to produce ferroalloys using cleaner fuel LNG rather than furnace oil. "Our partnership with BPCL will ensure a steady supply of LNG for our ferro alloys plant in Jajpur. This Memorandum of Understanding is consistent with our commitment to decarbonisation and our sustainability plan, TSML Managing Director Pankaj Satija said. Rouf M Khan, Head (GAS), Eas

Oil & gas shares fire up: BPCL, Indian Oil, ONGC hit 52-week highs

In Q4FY23, OMCs will record 60-120 per cent QoQ Ebitda growth on the back of steady refining, auto-fuel margin recovery, and marginal LPG under-recovery.

ONGC to get dividend from Russian field; repatriation of income an issue

PSUs have found it challenging to repatriate their dividend incomes from some other Russian oil and gas fields as well, thanks to the Western sanctions

Kerala govt, BPCL agree in principle to set up Kochi plant to process waste

The Kerala government and the Bharat Petroleum Corporation Ltd (BPCL) on Wednesday reached an in-principle agreement to set up a plant in Kochi to process waste and produce compressed biogas, nearly two months after the port city witnessed a massive fire at the Brahmapuram dump site, exposing an outdated waste management practice. A decision in this regard was taken in a meeting held by government representatives, including State Local Self-Government Minister M B Rajesh, Industries Minister P Rajeev, and State Chief Secretary VP Joy with representatives of BPCL, an official statement said here. Rajesh said the plant will be constructed by BPCL on the land handed over by the government, and the company will also be responsible for maintaining the plant. "BPCL has informed us that the plant can be made operational within a year. The current understanding is to set up the plant in Brahmapuram itself. The municipal solid waste of Kochi and nearby municipalities can be treated at the ..

Centre to infuse equity in 3 OMCs after they announce capex plans: Report

OMCs, however, are concerned that equity infusion might impact their share price, market valuation and market perception

Stay away from expensive M&As: Lenders to Anil Agarwal's Vedanta

Group cannot take recourse to VRL, Vedanta's books to bid for BPCL

Opec-plus cut weighs on OMC shares, BPCL and HPCL shed over 4% each

Analysts said Street is worried that sustained oil price hike could put pressure on OMC margins as govt may not pass the entire burden on to customers

HPCL signs pact with BPCL for synergy in purchase, sale of hydrogen

Hindustan Petroleum Corporation Ltd (HPCL) on Thursday said it has signed a pact with Bharat Petroleum Corporation Ltd (BPCL) for synergy in purchase and sale of hydrogen between the refineries the two firms operate in Mumbai. Hydrogen is an essential utility required for treating of diesel and petrol to produce low-emission fuel of Euro-VI or Bharat Stage VI specifications, and is vital for reliable and safe refinery operations. "A Memorandum of Understanding (MoU) was signed between HPCL Mumbai refinery and BPCL Mumbai refinery as part of synergy through purchase and sale of hydrogen," the company said in a statement. The one-of-a-kind strategic partnership between two oil marketing companies is part of synergy for "mutual aid during emergencies and towards environmental impact by minimizing valuable hydrogen flaring," it said. "This initiative envisages cooperation and collaboration as part of synergy in the areas of hydrogen exchange between both refineries for sustained refiner

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 ..

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

BPCL plans to shut Bina refinery in June for a month for maintenance

The state-run refiner also plans to shut half of its 240,000 bpd Mumbai refinery in western India for three to four weeks in September-October for maintenance

Mehul Kothari expects a pullback rally in Biocon, Wipro; Here's why

According to the technical analyst from Anand Rathi, BPCL and Wipro can pullback to Rs 270 and Rs 430, respectively.

Leakage in diesel pipeline of BPCL in Thane, area cordoned off for repair

Diesel leaked from a pipeline of the Bharat Petroleum Corporation Limited (BPCL) in Maharashtra's Thane district on Thursday morning following which the area was cordoned off for the repair work, a civic official said. The leakage in the 18 inches high pressure diesel pipeline started at 5.21 am near a gas godown at Shil in Thane and the fuel spilled in the area, Thane Municipal Corporation's Regional Disaster Management Cell chief Avinash Sawant said. After the incident, Turbhe police from Navi Mumbai, local firemen and a BPCL team rushed to the spot and started the work to plug the leakage, the official said. Police cordoned off the area, he said. The diesel pipeline was shut between Mumbai and Manmad for the repair work, he said. It is a 252 km-long pipeline. The company could not be immediately contacted for a response.

Here's why Mehul Kothari is bullish on BPCL, Thomas Cook

According to the technical analyst from Anand Rathi, BPCL can rally to Rs 365; while Thomas Cook can jump to Rs 88.

Retired BPCL Chairman Arun Kumar Singh appointed ONGC CMD for three years

New board level positions also created at ONGC with an eye on emerging global trends in oil and gas

ONGC appoints retired BPCL head Arun Kumar Singh as chairman & MD

Arun Kumar Singh, former chairman of oil refining and marketing company BPCL, was on Wednesday appointed chairman and managing director of ONGC -- the first instance of a retired person being appointed the head of a Maharatna PSU. "The Appointments Committee of Cabinet (ACC) has approved the proposal of Ministry of Petroleum and Natural Gas for appointment of Arun Kumar Singh, ex-CMD, BPCL as Chairman, ONGC for a three-year tenure with effect from the date of his assumption of charge of the post," an official order said. PTI first reported of Singh's appointment on November 17. Oil and Natural Gas Corporation (ONGC) is India's top oil and gas producer. A mechanical engineer from National Institute of Technology, Patna, Singh was Director (Marketing) of Bharat Petroleum Corporation Ltd (BPCL) from October 2018 to September 2021, after which he was elevated as chairman and managing director of the company. Singh retired as BPCL head 13 months later in October 2022. A ...

As Russia becomes India's premier oil supplier, Saudi is not losing sleep

Despite losing its place to Russia in India, the world's third biggest oil importer, the kingdom is confident it holds the cards for crude supplies in the long term

The big short in oil & gas PSUs: Lack of leadership in sector hurting India

The government deplores the lack of good leadership in these companies but it adds to the problem with sub-optimal appointment practices for chief executives in this sector

BPCL's former Chairman Arun Kumar Singh to be the next head of ONGC

Oil refining and marketing company BPCL's former chairman Arun Kumar Singh is likely to be the new chairman of India's top oil and gas producer ONGC -- the first instance of a top PSU board-level position going to a person aged over 60. A search-cum-selection committee, constituted by the oil ministry, zeroed in on Singh after interviewing six candidates on August 27, two sources aware of the matter said. Singh retired after attaining the superannuation age last month and was already selected to head the Petroleum and Natural Gas Regulatory Board (PNGRB) before the August 27 interviews. If his selection is approved, Singh will get three years as head of the cash-rich PSU (Public Sector Unit). Oil and Natural Gas Corporation (ONGC) is without a regular chairman and managing director since April 2021 and the senior most director on the board has been entrusted with the additional charge. Since then, the firm has seen a record three interim heads. Sources said Singh became eligible f