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Auto fuel net marketing margin plummeted into the red at minus Rs 9.9 per liter in March 2022.
GAIL Gas Ltd, a unit of state gas utility GAIL, won the license for the Kodagan, Bastar, Sukma, Bijapur and Dantewada districts in Chhattisgarh.
They plan to spend ₹1,11,000 crore in the current fiscal year. ONGC spent ₹26,621 crore, against its budgeted expenditure of ₹29,800 crore. Its overseas arm, ONGC Videsh, fell far short of its target.
Crude oil prices soared to $139 per barrel on Monday after US Secretary of State Antony Blinken said the US and European allies are considering banning the import of oil from Russia.
BPCL, India second-biggest state refiner, on an average buys two million barrels of Russian Urals every month on a delivered basis, where the seller arranges for insurance of the cargo and ships
BPCL, India's second-biggest state refiner, on an average buys two million barrels of Russian Urals every month on a delivered basis
The two firms will first set up a substantial charging infrastructure at BPCL's existing petrol pumps and may subsequently broaden the collaboration to develop more synergies within the EV ecosystem and adjacent business verticals.
Find the latest energy news, views and updates from all top sources for the Indian Energy industry.
PSU oil marketing company Bharat Petroleum Corporation Ltd (BPCL) is aiming big to expand its footprint in clean fuel space and looking to set up an infrastructure to tap the growing market for electric and gas-based mobility, an official said on Tuesday.
Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) on Monday said it will exit Numaligarh refinery in Assam by selling its entire stake to a consortium of Oil India Ltd and Engineers India Ltd for Rs 9,876 crore. A consortium of Oil India Ltd, Engineers India Ltd, and the Government of Assam expressed interest in buying the stake and the BPCL board on Monday approved the sale.
PSU refiner BPCL has extended the deadline to submit an expression of interest (EOI) for the third consecutive time till 30th September. Sources speculate that the Saudi Aramco, Abu Dhabi National Oil Co, Rosneft of Russia, Exxon Mobil, and RIL are likely to participate in the bidding process. Due to the ongoing global crisis, India is an attractive investment destination for multinationals.
Bharat Petroleum Corp Ltd (BPCL) announced a new customer-friendly initiative with the launch of cooking gas booking through WhatsApp across the country. WhatsApp booking can be done on BPCL Smartline number — 1800224344 — from the customer’s mobile number registered with the company. BPCL already allows customers to book LPG through other channels like IVRS, missed call, apps, and website among other digital channels apart from its 6,111-strong large distributors.
Indian downstream major, Bharat Petroleum Corp Ltd has devised a novel technology to test the crude oil quality at a minimal cost and time. The current method requires lengthy lab tests. The newly developed technology is called BPMarrk, engineered to optimize varied properties from the crude. A 'crude horoscope predictor tool', BPMarrk has a number of patents including those from the US and the EU.
The Government of India, today, finally invited preliminary bids for the sales of its entire 52.98% stakes in India's second-biggest oil refiner, BPCL. The bidders will have to submit an Expression of interest (EOI) by May 2, according to the bid document by the DIPAM. BPCL's stake in Numaligarh Refinery Limited, however, has been excluded from the sale and will be sold only to a state-owned oil and gas firm.
State-run refiner, Bharat Petroleum Corp Ltd (BPCL) reported a nearly three-fold jump in its net profit to Rs 2,051.43 crore, for the fourth quarter. BPCL's net profit in 3Q2018 was Rs 698.62 crore, the company reported in a regulatory filing. However, revenue from operation slipped over lower oil prices to Rs 85,926.70 crore.
According to the sources, Rosneft has shown interest to bid for the acquisition of Bharat Petroleum Corp Ltd (BPCL). Under India's biggest privatisation plan, the country is selling all of its 53% stakes in the firm. In a meeting between Rosneft's CEO Sechin and Pradhan, the former was keen to expand in the world's third largest energy market.
State-owned OIL India alongwith Assam government is planning to acquire BPCL's 61% stakes in Numaligarh Refinery. This will retain the public sector character of the Assam-based entity. "OIL best fits the bill to take over NRL because of the synergy arising from their operations largely being located in the Northeast and its existing investment in NRL", said an official source.
After the announcement by the Indian government to privatise BPCL, many firms have started showing their interest in buying its stakes. Recently, Vedanta Resources Ltd has informed about that the company is evaluating an investment in the downstream giant. “One by one privatising these companies will take 10 years. It is better to (do it in) one-shot. The government has no business to be in business”, said Vedanta's Chairman.