Page 6 - Bpcl

BPCL and ONGC to jointly explore setting up a new refinery: Report

BPCL plans to increase its integrated refining and petrochemical capacities within the next five to seven years to meet growing energy demand

Govt receives about Rs 2,413 cr as dividend tranche from BPCL: Dipam secy

The government has received about Rs 2,413 crore in dividends from oil PSU BPCL, the Department of Investment and Public Asset Management (DIPAM) said on Monday. "Government has received about Rs 2,413 crore from BPCL as dividend tranche," DIPAM Secretary Tuhin Kanta Pandey said in a post on X. In the current financial year 2024-25 so far, Rs 15,389.14 crore has been received through dividends from the CPSEs. This includes Rs 5,091 crore from Indian Oil Corp (IOC), Rs 40 crore from Electronics Corporation of India Ltd (ECIL), Rs 554 crore from Power Finance Corp, and Rs 3,443 crore from Telecommunications Consultants India Ltd (TCIL) as special dividend. In the current fiscal, the government has budgeted to collect Rs 56,260 crore as dividends from public sector enterprises, up from Rs 50,000 crore in the 2023-24 fiscal. Separately, the country's largest insurer Life Insurance Corporation (LIC) paid a dividend of Rs 3,662.17 crore for FY24 last week. This amount is in addition to

BPCL planning to setup refining-cum-petrochemical complex in 5-7 years

State-owned Bharat Petroleum Corporation Ltd (BPCL) is exploring setting up an oil refining and petrochemical complex over the next 5-7 years as it steps up capacity to meet India's rising energy demand, chairman G Krishnakumar told shareholders on Friday. BPCL, which lost one of its four oil refineries to Oil India Ltd in the aborted privatisation plan, has lined up Rs 1.7 lakh crore of investment for expanding its core oil refining and fuel retailing business as well as in new energy ventures. "To meet the anticipated demand beyond our planned expansions in Bina and Kochi (refineries), we are actively evaluating options for setting up additional integrated refining and petrochemical capacities within the next 5-7 years," he said. BPCL had to give up its Numaligarh refinery in Assam to OIL when the government was attempting to privatise the company. The transfer was to keep the Numaligarh unit within public sector to honour Assam accord. But BPCL privatisation was aborted due to la

BPCL plans refining, petchem projects over 5-7 years to meet energy demand

India's annual consumption of refined fuels and petrochemicals is expected to rise steadily by 4-5 per cent and 7-8 per cent in the 'foreseeable future'

IOC, BPCL & GAIL fail to meet listing norms for 5th quarter in row, fined

India's biggest oil firms including Indian Oil, BPCL and gas utility GAIL have been slapped with fines for a record fifth straight quarter for failing to meet listing norms of having the requisite number of independent and women directors on their board. Stock exchanges BSE and NSE have slapped fines on oil refining and fuel marketing giants Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL), explorer Oil India Ltd (OIL), gas utility GAIL (India) Ltd, and refiner Mangalore Refinery and Petrochemicals Ltd (MRPL) for not meeting the listing requirement in the April-June quarter. In separate stock exchange filings, the companies detailed the fines imposed by the BSE and NSE for either not having the requisite number of independent directors or the mandated women directors in the quarter ended June 30, 2024 (first quarter of current 2024-25 fiscal year), but were quick to point out that appointment of directors was done by

BPCL plans to invest Rs 1.7 trn to expand core business, new energy foray

State-owned Bharat Petroleum Corporation plans to invest Rs 1.7 lakh crore over the next five years to grow its core oil refining and fuel marketing business as well as in 'future big bets' of petrochemicals and green energy, its chairman G Krishnakumar has said. Bharat Petroleum Corporation Ltd (BPCL), currently, owns about 14 per cent of India's oil refining capacity and about a quarter of the fuel retailing network. It plans to grow these businesses while foraying into newer areas. The firm is now implementing the first phase of a multi-decade aspirational journey in the form of 'Project Aspire' - its five-year strategic framework that is based on two fundamental pillars - 'Nurturing the Core' and 'Investing in Future Big Bets', he said in the company's latest annual report. "Our mid-term strategy is on a continuum. While we remain committed to growing our core businesses, which include refining and marketing petroleum products and upstream, we are equally focused on our big bets

BPCL sets up first-of-its-kind biofuel blend bunker at Mumbai port

Public sector oil marketing firm BPCL on Friday said it has set up a biofuel blend High Flash High-Speed Diesel (HFHSD) bunker at Mumbai Port. The facility, the first-of-its-kind by an OMC in the country, provides shipping companies with a cleaner, biodegradable alternative to traditional fuels, Bharat Petroleum Corporation Ltd (BPCL) said in a statement. This initiative not only supports environmental sustainability but also strengthens BPCL's position as a leader in the Indian bunkering market, it added. It also aligns with the global mandate to decarbonise the shipping sector apart from one of many green initiatives by the company, BPCL said. "Our Project Aspire, with its focus on green energy, is driving our efforts towards a cleaner future. This biofuel blend bunker is a significant step in that direction and positions BPCL as a global bunkering leader," said Sukhmal Jain, Director (Marketing) at BPCL. The company's foray into biofuel blends is part of a broader strategy to .

After record profits, state-owned fuel retailers see profit slump in Q1

After reporting record profits, state-owned fuel retailers Indian Oil Corporation (IOC), BPCL and HPCL posted up to 90 per cent slump in their June quarter earnings as margins fell and they booked under-recovery on the sale of domestic cooking gas LPG at government-controlled rates. IOC, the nation's largest oil firm, reported 81 per cent drop in standalone net profit in April-June - the first quarter of current 2024-25 fiscal year - to Rs 2,643.18 crore as opposed to a profit of Rs 13,750.44 crore a year back, according to a company filing. Net profit also declined sequentially, when compared to an earning of Rs 11,570.82 crore in March quarter. Hindustan Petroleum Corporation Ltd (HPCL) posted 90 per cent drop in profit to Rs 633.94 crore as compared to an earning of Rs 6,765.50 crore in April-June 2023 and Rs 2,709.31 crore in the preceding March quarter. Bharat Petroleum Corporation Ltd (BPCL) net profit dropped to Rs 2,841.55 crore in April-June from Rs 10,644.30 crore a year .

Nifty rallies from 20,000 to 25,000 in 221 sessions; Check top movers here

Nifty 20K-25K top movers: Bajaj Auto has zoomed 100% since Nifty hit 20K on September 11, 2023. BPCL, Coal India, Mahindra & Mahindra, ONGC, Tata Motors and Hero MotoCorp other major Nifty 50 gainers.

SRF, BPCL among top picks by Chandan Taparia of MOFSL for July 31

SRF has given trend line breakout on daily chart and holding well above the same.

Nomura picks BPCL as top OMC stock on attractive valuation; sees 21% upside

Analysts said BPCL reported a robust performance in the June quarter (Q1FY25) despite a challenging environment.

PSU refiner BPCL expects further cuts in oil OSPs as fuel margins drop

Indian refiners have also raised imports of Russian crude sold at discounts after Western nations imposed a raft of sanctions against Moscow for its invasion of Ukraine

BPCL Q1 results: Consolidated net profit falls 73% to Rs 2,842 crore

Gross refining margins fell to $7.86 per barrel even as market sales rose

BPCL Q1 results: Net profit declines 71% to Rs 3,015 cr on higher costs

The state-owned firm's standalone net profit fell 71% to 30.15 billion rupees (around $360 million) for the three months ended June 30

Modi govt departs from privatisation plans, might overhaul state-run firms

The aim is to raise $24 billion in the current April-March fiscal year and re-invest the funds in the companies

CM Naidu demands announcement of BPCL refinery for Andhra in Budget

In his meeting with Nitin Gadkari, Naidu sought support for construction of the Outer Ring Road project in Amaravati, widening of the Hyderabad-Vijayawada highway and support for other road projects

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

Indian oil giants, Brazil's Petrobras in talks for long-term crude supply

Indian Oil, Hindustan Petroleum, and Bharat Petroleum are negotiating with Brazilian energy major Petrobras to secure long-term crude oil supply contracts to diversify its energy sources

IOA ropes in BPCL as Principal Sponsor from Paris 2024 to LA 2028 Olympics

As part of this collaboration, BPCL will launch a series of campaigns designed to support and uplift the Indian contingent heading to Paris

BPCL to shut 6 MTPA crude unit at Kochi refinery for one-month maintenance

BPCL also plans to expand the Bina refinery's capacity from the current 7.8 MTPA to 11 MTPA by mid-2027