BPCL plans foray into Singapore

Bharat Petroleum Corporation Ltd (BPCL) is planning to expand its retail business to south Asian countries starting with petroleum retailing Singapore.

It's first overseas foray "" into Sri Lanka "" is caught in a trade union issue.

Sanjay Krishnamurthi, executive director, said, "Though our plan to run 100 retail outlets in Sri Lanka "" earlier being owned by Ceylon Petroleum Corporation "" has been delayed because of developments beyond our control, we are not giving up on the project as the Sri Lankan government is now trying to find a way forward."

He said Singapore could be "our next destination as far as retailing abroad is concerned. A few other countries are also under consideration but that will be at a latter stage".

BPCL is targeting the Singapore market through acquisitions. The move comes even as the Singapore Petroleum Company recently took over petroleum retail outlets being earlier run by British Petroleum.

In the domestic market in last two financial years, BPCL has added 1,800 retail outlets., "This is part of our aggressive retail plan and now we are targeting the rural retail market," Krishnamurthi said.

The corporation expects to sell around 2.5 million tonne of petrol through its domestic retail outlets during the current year and 9 million tonne of diesel.

It has received a licence for selling compressed natural gas (CNG) in three districts of Gujarat "" Gandhinagar, Mehsana and Banaskantha.

It also plans to introduce CNG in at least two new markets beyond Gujarat.

"We are now considering entering into two more important markets "" Pune and Kanpur "" as far as green fuel for vehicles is concerned. At present we are trying to find out suitable partners for joint ventures in these two cities."

Besides compressed natural gas, the corporation intends to focus on marketing its liquefied petroleum gas in both the domestic and commercial segments.