Page 9 - Bpcl

Indus Towers signs pact with IOC Phinergy for clean energy systems

Indus Towers and IOC Phinergy (IOP) have inked a pact for the deployment of 300 zero-emission energy systems to optimise diesel consumption at Indus' telecom tower sites. This move accelerates Indus Towers' progress towards its sustainability priorities, according to a release. "Indus Towers Limited and IOC Phinergy Private Limited (IOP) have signed an agreement for deployment of 300 zero-emission energy systems based on aluminium-air technology, to optimise diesel consumption at Indus' telecom tower sites," the release said. Indus Towers' CEO Prachur Sah said as part of the company's ESG vision, Indus Towers believes in nurturing environmental stewardship, being socially responsible and having robust governance. "Indus Tower's agreement with IOP is a testimony of the company's commitment to build eco-friendly telecom tower sites by investing in solutions for resource optimisation," Sah added. IOP is a joint venture company formed by IOCL and Phinergy Ltd, Israel to manufacture, s

After BPCL, ONGC signs up HPCL for sale of oil from Mumbai offshore fields

State-owned Oil and Natural Gas Corporation (ONGC) has signed an agreement to sell crude oil it produces from Mumbai offshore fields to HPCL - the second such agreement in as many months, as India's top oil and gas producer prefers term contracts over auctions where refiners hammer deep discounts. In a post on X, formerly known as Twitter, ONGC said it has inked "term agreement with HPCL for sale of crude oil from Mumbai offshore." While it did not give details, sources aware of the matter said the pact for sale of about 4.5 million tonnes per annum of crude oil to Hindustan Petroleum Corporation Ltd's (HPCL) Mumbai refinery. "This is the second term agreement sealed for sale of Mumbai Offshore crude oil post marketing freedom," ONGC said. Last month, ONGC had signed a similar pact to sell 4 million tonnes per annum plus an optional 0.5 million tonnes of crude oil to Bharat Petroleum Corporation Ltd (BPCL), which too has a refinery to convert the crude oil into fuels like petrol an

Rising crude, uncertainty ahead of elections keep analysts wary on OMCs

Analysts say the already weakening marketing margins will be a concern ahead as the fate of OMCs remains tied to uncertain crude prices and the inability to raise prices amid the coming elections

BPCL, IOC, HPCL stocks slide 1-3% on reports OMCs may bear LPG subsidy cost

The move is also sentimentally negative for OMC stocks as investors fear that price cuts on petrol and diesel could be next in line ahead of the assembly and general elections

Indian refiner BPCL to spend $18.16 bn in oil, green energy over 5 years

The nation has set itself a target to reach net zero by 2070. Many Western countries have set a mid-century goal to meet net zero

Govt to get significant stake in HPCL post preference issue: Officials

Five years after it exited the company, the government is set to get a significant stake in Hindustan Petroleum Corporation Ltd (HPCL) as it looks to infuse equity in fuel retailers that lost money on selling petrol and diesel at discounted rates last year, officials said. The government had in the annual Budget for 2023-24 (April 2023 to March 2024 fiscal) announced Rs 30,000 crore of capital support to state-run fuel retailers -- Indian Oil Corporation (IOC), HPCL and Bharat Petroleum Corporation Ltd (BPCL) -- to support their energy transition and net-zero initiatives. In June, the government asked IOC and BPCL to launch rights issues (to get the capital), and advised HPCL to make a preferential share allotment to the government. Board of IOC earlier this month approved raising up to Rs 22,000 crore by inviting existing shareholders to purchase additional new shares in the company (this type of issue gives existing shareholders securities called rights). BPCL board too has appro

Ather Energy partners with BPCL to expand charging infrastructure

Electric scooter maker Ather Energy on Friday said it has partnered with Bharat Petroleum Corporation Limited (BPCL) to expand its charging network. Through the collaboration, Ather will gain access to BPCL's network of over 21,000 fuel stations across the country, facilitating the installation of Ather's public fast-charging grid. Ather already has more than 1,400 chargers across 100 cities. "Our partnership with BPCL builds the momentum even further to create a widespread, nationwide fast-charging network," Ather Energy Chief Business Officer Ravneet Phokela said in a statement. As electric vehicle adoption continues to grow, the company believes that strategic alliances like these play a crucial role in making charging infrastructure more accessible, he added.

BPCL still in talks with Rosneft for Russian oil deal, discounts narrow

Reuters last month reported that BPCL is in talks to buy up to 6 million metric tons of Russian oil under a term deal with Rosneft

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

BPCL Q1FY24 result: Net profit at Rs 10,644.30 cr; revenue down by 7.3%

Sequentially, the net profit was up 54.9%; in Q4FY23, the net profit of the company was Rs 6,870.47 crore

Indian Oil to raise up to $2.7 billion through rights issue of shares

IOC, the country's top refiner, has not specified which projects the newly raised funds would target

OMCs rally up to 7% on improved outlook; HPCL, IOC scale 52-week highs

In the past one-year, shares of OMCs have risen between 18 per cent and 28 per cent on the back of a fall in crude oil prices. Brent crude prices have corrected 20 per cent in the past one year

10% of country's fuel pumps now offer EV charging facilities, IOCL leads

5,600 IOCL pumps offer EV charging facilities which come at about 15 per cent of its total 36,400 fuel pumps across the country

Stocks to Watch: BPCL, PowerGrid, ATGL, ICICI Bank, T D Power, CreditAccess

Stocks to Watch on June 30, 2023: MCX has extended the support services deal with its software vendor 63 Moons Technologies; BPCL's board approved raising up to Rs 18,000 crore via rights issue

Can India continue with purchasing spree of Russian oil as discounts narrow

The shift to date has suited the Kremlin, looking for new markets as Western buyers and established oil traders pull back. It's worked for India too, eager to snap up cheaper fuel

BPCL in talks with Rosneft to buy oil priced on Dubai benchmark: Reports

The deal would deepen India's commitment to its now-biggest oil supplier in the wake of Western sanctions on Moscow and mark a continued shift by Rosneft to pricing its oil

Bharat Petroleum exercises RoFR to buy Videocon Oil's Brazil assets

Earlier, lenders had given conditional nod to sell 3 basins to Eneva, PetroRio

BPCL's Bargarh bio-refinery to invigorate circular economy: Pradhan

State-owned Bharat Petroleum Corporation Ltd's (BPCL) Bargarh 2G bio-refinery which will use rice straw to produce ethanol for mixing in petrol, will invigorate a circular economy and give impetus to waste-to-wealth creation, Union Minister Dharmendra Pradhan said on Sunday. Pradhan, who is the Union Minister for HRD, visited the under-construction Bargarh 2G bio-refinery site in Odisha as part of the Vikas Teerth Yatra to mark nine years of the Modi government. "Bargarh bio-refinery is making steady progress and is expected to be commissioned soon," he tweeted. After producing ethanol from sugarcane, India is now pushing for producing low-carbon fuel from grains and agri waste. This is part of an ambitious programme to mix ethanol in petrol to cut down emissions as well as the country's dependence on imports for meeting oil needs. Presently, 10 per cent ethanol is mixed in petrol (10 per cent ethanol, 90 per cent petrol) and this volume is targeted to be doubled by 2025. The Barga

Refinery rejig: Why is India steadily raising petrochemicals capacity

Estimates for the sector are bullish for a decade but it is not an easy business to run, say experts

Stocks to Watch today, May 23: PolicyBazaar, BPCL, Vedanta, NMDC, JSW Steel

Stocks to watch on May 23, 2023: Amara Raja Batteries, Ashok Leyland, Biocon and NMDC among prominent companies to announce Q4 results on Tuesday