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Why privatization of BPCL will be a good thing for all stakeholders
Posted on 13th September 2019
The government has set a tall divestment target of ₹1.05 trillion for FY20. Needless to say, it would need to sell stakes in some of the large public sector companies to achieve the target.

Here, state-run oil marketing and refining company, Bharat Petroleum Corp. Ltd (BPCL), seems to be on the radar.


India's BPCL buys US crude set to arrive in China after new tariffs kick in
Posted on 5th September 2019
An Indian state-owned refiner has swooped in to buy American oil that was en route to China but due to arrive after new tariffs kicked in.

Bharat Petroleum bought one or two cargoes of US crude that were recently diverted from its original destination of China, Refineries Director R Ramachandran said in an interview.


PSU disinvestment: Minority shareholders to gain from privatisation, says BPCL
Posted on 4th September 2019
Privatisation more likely than stake sale to IOC: Press reports suggest government of India (GoI) is considering selling its entire stake in Bharat Petroleum Corp (BPCL) to Indian Oil Corp (IOC) or to a private player. Privatisation would realise a higher price, may help take politics out of auto fuel pricing, would ensure IOC’s ability to pay hefty dividend to GoI is not impaired, prevent further supply overhang in ONGC and may improve market sentiment as it would be seen as big bang reforms.

Soon, cars will run on cooking oil: Indian Oil, BPL, HPCL working on this program
Posted on 10th August 2019
In a move that may fulfil Prime Minister Narendra Modi’s dream of reducing India’s dependence on energy imports, state-run fuel retailers — Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp will soon start a collection drive for its ambitious program that aims at converting used cooking oil to biodiesel. These oil corporations are expected to float an Expression of Interest application for procurement of Used Cooking Oil across 100 cities, Ministry of Petroleum and Natural Gas said in a statement on Thursday.

RIL, BP expand ties to service stations, ATF biz
Posted on 7th August 2019
British Petroleum (BP) and Reliance Industries Ltd (RIL) on Tuesday announced a new joint venture (JV) that will include a retail service station network and aviation fuels business across India.

The JV will incorporate and build on RIL's current fuel retailing network of over 1,400 sites across India, which the partners aim to grow rapidly to up to 5,500 sites over the next five years.


OVL, OIL, BPCL and others to invest $20 billion in Mozambique LNG project
Posted on 20th June 2019
ONGC Videsh, Oil India and Bharat Petroleum Corporation along with operator US-based Anadarko Petroleum and other partners announced the final investment decision (FID) of $20 billion for Rovuma Offshore Area-1 Mozambique LNG project.

The investment will go towards construction of a gas liquefaction and export terminal and the project will initially consist of two LNG trains with a total nameplate capacity of 12.88 million tonne per annum,


BPCL’s investment plan for Mozambique gas field gets approval
Posted on 18th June 2019
A ministerial group headed by home minister Amit Shah has given its nod to Bharat Petroleum Corporation’s (BPCL) plan to invest $2.2-2.4 billion in the Rovuma Offshore Area-1 gas field in Mozambique. The group — including finance minister Nirmala Sitharaman, commerce and railway minister Piyush Goyal, external affairs minister S Jaishankar and petroleum and steel minister Dharmendra Pradhan — had met on June 4 to scrutinise the investment plan, as it is still to be approved by the Cabinet Committee on Economic Affairs (CCEA).

BPCL, HPCL take 25 per cent stake each in IOC’s Rs 9,000 crore LPG pipeline project
Posted on 4th June 2019
Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) have joined in the country’s longest LPG pipeline project being laid by state-owned Indian Oil Corp (IOC) to cater to cooking fuel needs of a fourth of the country’s population. BPCL and HPCL will take 25 per cent stake each in the Rs 9,000-cr project that involves laying of a pipeline from Kandla in Gujarat to Gorakhpur in Uttar Pradesh, the companies said in separate but almost identical regulatory filings.

HPCL, BPCL and Indian Oil Corp drop up to 3% as crude oil prices rise
Posted on 8th April 2019
Shares of oil marketing companies (OMCs) such as Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL) and Indian Oil (IOC) dropped up to 3 per cent in the morning trade on Monday as the international crude oil prices rose to their highest level since November 2018, owing to OPEC's ongoing supply cuts, US sanctions against Iran and Venezuela, and strong US jobs data.

At 10:30 am, HPCL was trading over 3 per cent lower at Rs 255.15 apiece on BSE while BPCL was down 1.66 per cent at Rs 352. Shares of IOC were trading over a per cent lower at Rs 156.45 apiece on BSE.


BPCL to bring 1 MTPA natural gas from Mozambique to India
Posted on 12th February 2019
MUMBAI: State-run Bharat Petroleum Corporation Ltd (BPCL) will bring to India the much-awaited natural gas from its Rovuma basin in Mozambique in the next five years, said officials aware of the development.

BPCL will bring in 1 million metric tonnes per annum (mmtpa) of gas from the Rovuma field where its upstream arm, Bharat Petro Resources Ltd (BPRL) holds 10% stake.


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