Page 11 - Bpcl

Analysts see pressure on RIL, OMC's profitability amid firm oil prices

Their expectation is based on the recent action in October by the OPEC of cutting production by 2 million barrels per day. This suggests that the OPEC is looking to defend price, they said

Sensex ends subdued day 235 pts up, Nifty swings above 18,200; SBI leaps 3%

CLOSING BELL: The Nifty PSU Bank index sharply outperformed other indices as it gained 4.5 per cent

Servotech Power Systems bags Rs 46 cr order from BPCL to supply EV chargers

Servotech Power Systems has bagged a Rs 46.2 crore order from Bharat Petroleum Corporation Ltd (BPCL) for supplying and installing a series of EV Chargers at different locations across the country in the next four months. The project to supply and install 800 units of DC fast EV Chargers has already been initiated from Delhi and is expected to be completed by March 31, 2023, a company statement said. The project will span across the country, equipping petrol pumps in major Indian cities with EV Charging capabilities on its course. As part of this project, Servotech will take care of installation, commissioning, and maintenance of DC fast chargers at a range of locations involving BPCL's retail sites and fuel and gas stations, as suggested by BPCL. The project will help ensure the deployment of e-mobility touchpoints that address transactions, availability, discovery, and navigation in order to give users of electric vehicles easy access to the charging network. "This project will

After ONGC, BPCL gets interim head in absence of regular appointment

Vetsa Ramakrishna Gupta on Tuesday assumed additional charge as chairman and managing director of Bharat Petroleum Corporation Ltd (BPCL) -- the second 'Maharatna' oil PSU to get an interim head in the absence of a regular appointment. Gupta, Director (Finance) at BPCL, succeeds Arun Kumar Singh, who superannuated on October 31, a company statement said. Government headhunter Public Enterprises Selection Board (PESB) had in March this year advertised for the post of chairman and managing director of BPCL to look for a successor for Singh. The applications for the job closed on June 1 but PESB is yet to recommend a candidate, necessitating the appointment of an interim head. Singh retired after serving as chairman and managing director of BPCL for 13 months. His successor, Gupta, 51, is the senior most director on the company board and has thus been given the additional charge. He will superannuate in June 2031. BPCL is the second oil PSU to get an interim head. Oil and Natural Ga

Seven injured in blast at BPCL oil depot near Bhopal, says official

Seven persons were injured, two of them seriously, in a blast that occurred when petrol was being filled in the container of a tanker at a Bharat Petroleum Corporation Limited's (BPCL) depot on the outskirts of Bhopal, an official said on Saturday. The incident took place on Friday evening at the oil depot located in Bakania area, Khajuri police station in-charge Sandhya Mishra said. The "unexpected fire" was being investigated, BPCL said in a statement later. "Seven persons were injured in the blast. While six of them are either drivers or helpers of Hindustan Petroleum Corporation Limited (HPCL) who were there to get fuel filled in their tankers, one is an employee of BPCL," she said. Two of them were seriously injured and undergoing treatment at a private hospital, Mishra added. While the exact cause of the fire is yet to be ascertained, the police official said a short-circuit could be the reason. In a statement, the state-run BPCL said, "An unexpected fire occurred at our PO

BPCL to convert outlets into stations providing multiple fueling options

Bharat Petroleum Corporation Limited (BPCL) has aimed to convert its 7,000 conventional retail outlets into energy stations providing multiple fueling options including electric vehicle (EV) charging facility, in the medium to long term. BPCL on Friday announced the launch of EV fast-charging stations on two corridors in the southern region -- Bangalore-Chennai and Bangalore-Mysore-Coorg Highway. The chargers are strategically located at nine of its fuel stations with an approximate distance of 100 km on both sides of the routes, a company statement said. BPCL plans to provide EV charging stations at its fuel pumps at periodic intervals on all major national highways connecting major cities and economic centres in the country, it said. "...BPCL aims at accelerating its focus on new business segments and converting its 7,000 conventional Retail Outlets into Energy Stations providing multiple fueling options, which will also include EV charging facility, in the medium to long term,"

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

OPEC+ production cut ahead of winter puts India on a slippery slope

A higher than expected production cut by the group will add to the strain on government finances

ONGC Videsh to invest $1 billion in offshore block held by Petrobras

Brazil's Petroleo Brasileiro SA (Petrobras) owns a 75 per cent stake in the block and the rest 25 per cent is held by OVL, it will raise its stake in the block

Thrust on non-par products to yield desired results: LIC chief M R Kumar

We intend to sharpen the focus on bancassurance to steadily and considerably increase its volume, thereby its share in our business, said Kumar

Bringing BPCL sale back on the table

Retail oil price reform through direct subsidy transfers should be considered

BPCL signs pact with Brazil's Petrobras to diversify crude oil sourcing

State-owned Bharat Petroleum Corporation Ltd (BPCL) on Saturday said it has signed an agreement with Brazilian national oil company Petrobras for sourcing crude oil from the Latin American nation as part of plans to diversify its sourcing needs. BPCL imports a large volume of crude oil which is turned into fuel such as petrol and diesel at its three oil refineries at Mumbai, Bina in Madhya Pradesh and Kochi in Kerala. The firm, which gets majority of its supplies from west Asian nations such as Iraq and Saudi Arabia, is looking to diversify its sources of supply in an attempt to cut down reliance on any particular region. Company chairman and managing director Arun Kumar Singh and Petrobras CEO Caio Paes de Andrade signed a memorandum of understanding (MoU) in Brazil, BPCL said in a statement. "The signing of the MoU will strengthen future crude oil trade relations between the two companies and explore potential crude import opportunities by BPCL, on a long term basis, especially .

Divestment of BPCL off the table for now, says Hardeep Singh Puri

The plan to offload the Centre's 52.98 percent stake in the oil major could not go forward as there was not sufficient number of bids

Top headlines: AI puts in place transformation plan;BPCL divestment stalled

The carrier, which plans to induct 30 new wide-body and narrow-body aircraft, on Thursday announced 'Vihaan.AI', a comprehensive transformation plan with a detailed road map for next five years

BPCL disinvestment plans stalled as of now: Oil minister Hardeep Puri

The government currently owns a 52.98 per cent stake in BPCL. It had sought to sell its entire stake in the disinvestment process

Deflating gas economy: Kirit Parikh has a tough task on hand as prices soar

As global prices soar, another committee to review gas pricing policies may find the going more challenging

BPCL plans to load 700k barrels of Russia's Sokol cargo in Sept: Report

The Sokol cargo had been one of two sold by ONGC Videsh, the overseas investment arm of Oil and Natural Gas Corp to refiners Hindustan Petroleum Corp and BPCL in March

Sensex jumps 379 pts, Nifty tops 17,800; auto stocks in fast lane, PSBs dip

CLOSING BELL: Maruti Suzuki, M&M, Asian Paints, HUL, Ultratech Cement, Tech M, and HDFC twins were the top gainers on the Sensex index

BPCL to spend Rs 1.4 trn on petrochemicals, gas business in next five years

BPCL, which owns 20,217 out of 83,685 petrol pumps in the country, is looking at not just selling petrol and diesel at bunks but also providing EV charging as well as fuels of the future like hydrogen

Ethanol plants to generate green jobs, raise farmer income: PM Modi

India's ethanol blending in petrol has increased to 10.16 per cent in 2022