Bpcl

BPCL buys first crude oil cargo from Argentina for Feb delivery: Reports

The state-run refiner has purchased the 1-million-barrel cargo of Medanito crude for February delivery from European trader Mercuria, the sources said

Arvindar Singh Sahney will be new chairman of Indian Oil Corporation

Arvindar Singh Sahney will be the new chairman of Indian Oil Corporation, the nation's largest oil firm, according to an order issued by the petroleum ministry on Wednesday. Sahney, 54, is currently Executive Director (Business Development - Petrochemicals), Indian Oil Corporation Ltd (IOC). He was in August selected to be the company's director for business development but has now been appointed as the chairman of the firm. "The Appointments Committee of the Cabinet (ACC) has approved the proposal of this ministry for appointment of Shri Arvindar Singh Sahney, Executive Director, IOC to the post of Chairman, IOC, for a period of five years with effect from the date of his assumption of charge of the post, or till the date of his superannuation, or until further order, whichever is the earliest," the Ministry of Petroleum and Natural Gas said in an order. The post of chairman IOC fell vacant after Shrikant Madhav Vaidya completed his extended tenure on August 31, 2024. Currently, .

Russia oil intake share declines to 34% in September quarter, says BPCL

BPCL mainly processes Russian oil at its 156,000-bpd Bina refinery in central India and the 310,000-bpd Kochi refinery in southern Kerala state

BPCL Q2 FY25: Net profit plunges 72% to Rs 2,297 crore on higher expenses

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

BPCL Q2FY25 results: Net profit falls 71.8% on lower marketing margins

The country's third-largest oil refiner by capacity said the average gross refining margin for April-September fell to $6.12 per barrel from $15.42 per barrel a year earlier

HPCL, BPCL, IOC soar up to 5% in trade as oil prices slip to 2-week low

A fall in oil prices is beneficial to OMCs as their costs for acquiring crude oil for refining drop

BPCL signs initial pact with Mumbai Port to set up green fuel ecosystem

State-owned BPCL has inked an initial pact with Mumbai Port Authority and Mumbai Port Sustainability Foundation (MPSF) for setting up a green fuel ecosystem at the port. The MoU is a pivotal step towards driving India's transition to cleaner energy solutions. By focusing on green fuel innovations, this initiative aims to significantly reduce greenhouse gas emissions, contributing to the country's climate change goals, a BPCL statement said. Additionally, the pact outlines an exploration into the conversion of diesel-powered vessels to cleaner fuel alternatives, further enhancing the port's green infrastructure and reducing its carbon footprint, it said. The agreement was formalised during the launch of the Cruise Bharat Mission by Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal at Mumbai Port earlier this week, according to BPCL. As part of the initiative, the two partners will jointly set up EV charging stations at Mumbai Port, promoting green energy adoption f

BPCL and Mumbai Port Authority to launch India's first green fuel ecosystem

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

CPCB notice to BPCL for failing to install vapour recovery systems

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

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.