Bharat Petroleum

After HPCL, the government headhunter struggled to find a suitable candidate for the top job at Bharat Petroleum, as most applicants were narrow specialists lacking multidisciplinary experience needed to run a large organisation. The Public Enterprise Selection Board (PESB) last month interviewed a dozen candidates including BPCL Director (Finance) Vetsa Ramakrishna Gupta and its Director (Refineries) S Khanna but found none suitable for the job of chairman and managing director of Bharat Petroleum Corporation Ltd (BPCL), according to a PESB order. It advised the administrative ministry "to choose an appropriate course of further action for selection including the search cum selection committee," according to the order. Incumbent G Krishnakumar superannuates as chairman and managing director of BPCL on April 30 this year. BPCL is the fourth company in the oil sector where PESB couldn't find a suitable candidate since 2021. PESB in May 2023 did not make any recommendation for the to

The deals highlight India's plan to more than double the share of gas in its energy mix by the end of this decade

US giant Marathon Oil pledging investments and technology to raise output from Mumbai High oil and gas fields, companies such as Occidental Petroleum seeking a stake and at least two privatisation bids have seen final culmination in global energy giant BP signing up to lift output from India's prime field lying off the Mumbai coast. State-owned Oil and Natural Gas Corporation (ONGC) last month signed a technical service contract with BP to reverse declining output from the ageing field, according to statements by the two firms. BP has pledged to lift oil production by 44 per cent and gas output by 89 per cent from India's largest field in exchange for a fixed fee. The BP deal is exactly on lines of the one ONGC had in 1998-99 signed with Marathon Oil Corporation, according to company insiders and industry sources. Just like BP, Marathon wasn't getting any stake in the field but only a pre-agreed share in the incremental oil and gas production over a defined baseline. But unlike BP,

BPCL's reported gross refining margins (GRMs) stood at $5.6 per barrel or bbl ($4.4/bbl in Q2FY25). Refining throughput was 9.5 metric million tonnes or mmt (-3 per cent Y-o-Y)

BPCL's Russian oil processing declined to 31 per cent in December quarter from about 35-40 per cent in the previous month

India wants to emerge as a major refining hub supplying fuel to the global markets as Western companies are cutting crude processing capacities in favour of energy transition

Resumption of more frequent revision in retail prices could be a driver. Policy risk appears low

Puts up to Rs 18,000 cr worth rights issue plans on hold

Bharat Petroleum Corporation Limited has signed an MoU with Mumbai Port Authority to develop India's first green fuel ecosystem, enhancing sustainable energy solutions at the port

The Central Pollution Control Board (CPCB) has issued a show cause notice to Bharat Petroleum Corporation Limited (BPCL) for failing to install vapour recovery systems at 28 of its storage terminals to capture carcinogenic benzene emissions and other volatile compounds. PTI reached out to the BPCL for a comment but could not get one immediately. The notice, issued on September 4, said an environmental compensation of Rs 1 crore could be imposed if the BPCL fails to provide a satisfactory response by September 19. On September 18, 2020, the CPCB directed the BPCL to install vapour recovery systems at petrol pumps selling more than 100 kilolitres of fuel per minute (KLPM) in cities with over one million residents, and at pumps selling more than 300 KLPM in cities with populations between one lakh and 10 lakh, as well as at storage terminals. In December 2021, the National Green Tribunal (NGT) directed the CPCB to take appropriate action against petroleum outlets and depots that faile

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

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

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

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

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 ..

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

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

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

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

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