Oil regulator PNGRB Monday declared the final list of winners of city gas retailing licences that had billionaire Gautam Adani’s group, state-owned Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Torrent Gas as the big winner. Adani Gas won rights to retail CNG to automobiles and piped cooking gas to households and industries in 13 cities on its own and another nine, including Allahabad, in a joint venture with IOC,
Mumbai: The Bharat Petroleum Corporation Limited (BPCL) on Tuesday said that it has no plans to absorb the rising fuel prices, adding that no communication has been received from the central government on the same.
Addressing media post the firm's Annual General Meeting, BPCL Chairman and Managing Director D. Rajkumar said, "There's no communication from the (central) government whatsoever at this point in time to absorb the prices.
Public sector oil companies — HPCL, BPCL and IOC — are planning to share the investments for upcoming product and gas pipelines across the country that will help them reduce the capital expenditure on pipelines and enter newer markets at less than 50% of the original project cost.
The companies have already identified around 5-6 major pipeline projects where they plan to share the infrastructure, senior company officials said.
India's Bharat Petroleum Corp Ltd will keep a secondary unit at its 120,000 barrels-per-day (bpd) Mumbai refinery offline for at least two months following a fire last week, two industry sources said on Friday.
When contacted, a BPCL spokesman could not immediately confirm the duration of the shutdown, saying that a decision will be made in one to two days.
The domestic equity markets started Tuesday's trade on a strong note with the BSE Sensex going beyond the 36,800 mark for the first time ever, Nifty50 touched 11, 134.95 mark. In just few minutes, Sensex was at 36,816.53 level, with a gain of 97.93 pointswhile Nifty was at 11,115.50, up 30.75 points.
Shares of oil marketing companies (OMCs) like Indian Oil Corporation (IOCL), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) were trading higher by up to 6% in otherwise subdued market after Brent crude prices fell in the international market.
At 11:39 am; HPCL (up 6% at Rs 323), IOCL (5% at Rs 176) and BPCL (3% at Rs 424) were up in the range of 3% to 6% on the BSE, as compared to 0.07% decline in the S&P BSE Sensex.
New Delhi: Indian state refiner Bharat Petroleum Corp has requested an extra one million barrels of oil from the National Iranian Oil Co. (NIOC) for June, two industry sources said, amid a looming threat of stringent US sanctions.
The move by BPCL indicates that refiners will try to frontload their purchases from Iran ahead of a November US deadline for re-imposing sanctions on the country’s petroleum sector.
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