Bharat Petroleum Corporation Ltd is looking at 600 to 800 strategic sites across the country for its retail outlets expansion, a top official of the company said on Wednesday.
Oil refining companies, to a large extent, benefited from high gross refining margins during FY04 as a result of firm product prices in international markets
Global oil majors may be teaming up with investment funds that are already in the race to acquire Bharat Petroleum Corporation Ltd (BPCL), a document detailing steps needed to complete India's biggest privatisation showed. Billionaire Anil Agarwal's Vedanta group as well as two US funds -- Apollo Global and I Squared Capital - had last year submitted initial bids to buyout the government's entire 52.98 per cent stake in India's third-biggest oil refiner and second-largest fuel retailer. Detailing the 'Next Step', the 'Brief Note on BPCL Disinvestment' said Transaction Advisor and Asset Valuer are to submit an inception report, bidders have to complete due diligence of the company and sale purchase agreement has to be finalised.
Tata Consultancy Services (TCS), the group's biggest cash generator, overtook Vedanta to become the highest dividend payer in India in FY23. The IT services major paid Rs 42,090 crore for FY23, up 167.4 per cent from Rs 15,738 crore for FY22. The 10 biggest payers together shelled out Rs 2.06 trillion for FY23, more than double the Rs 98,371 crore for FY22.
Bharat Petroleum Corporation Ltd, the second largest oil marketing company in India, on Wednesday said it would be pumping in Rs 450 crore (Rs 4.5 billion) for retail expansion during this fiscal.\n\n
The banned cricketer will play for his employers Bharat Petroleum Corporation in the 24th PSPB inter-unit cricket tournament.
If the reforms are implemented, multi-brand retail majors such as Future Group and Reliance Retail might enter the fuel retail space.
IDBI Bank and Bharat Petroleum Corporation Ltd have inked a business-2-business e-commerce tie up aimed at customers of the latter's Rs 8,000 crore (Rs 80 billion) industrial and commercial strategic business unit.
The victory gave Indian Airlines a place in the semi-finals of the Shastri hockey tournament.
Unlike the previous visit, where TDP MPs accompanied Naidu to meetings, sources termed the current visit as "low profile", with one-on-one meetings with key Union ministers.
In a bid to boost its revenue in the LPG segment, public sector Bharat Petroleum Corporation Ltd will soon launch more value-added products such as domestic water heaters and mini generators powered by gas.
Reliance Industries Ltd, India's largest private sector oil firm, has seen a 70 per cent drop in its diesel sales in July on pricing the fuel higher than public sector firms to cut losses.
The incident occurred on the Alappuzha-Kannur Executive Express train in which two months ago a man had set fire to his co-passengers, which resulted in three deaths including a toddler, leading to speculation that it might be a case of sabotage and connected to the earlier one.
Petronet LNG Ltd will sell India's first liquefied natural gas from January next at around $3.6 per million BTU (British Thermal Unit), almost the same price as that of the private domestic natural gas producers.
Indian Airlines beat Bharat Petroleum while Indian Oil beat Air India in the Super League stage of the Maharaja Ranjit Singh hockey tournament.
Bharat Petroleum Corporation Ltd will import 1.4 million barrels (0.2 million tonnes) of Iraqi Basra Light crude oil during September-December.
As many as 52 Indian companies raised money from external sources in October, of which $719.52 million was raised through automatic route for which no approval is required from the Reserve Bank of India or the government.
Processes are at an advanced stage for a number of assets of the Centre and central public sector enterprises (CPSEs) to be monetised. The assets include office space, apartments, factories, land, power transmission assets, sports stadia, gas pipelines, and telecom assets.
Goals by Sabu Varkey and Hari Prasad gave Bharat Petroleum a 2-1 victory in the semi-final league of the Bombay Gold Cup hockey tournament.
Army XI, Bangalore, and holders Western Railway reached the semi-finals of the 44th Bombay Gold Cup Hockey
State-owned oil firms such as ONGC and IOC will invest over Rs 1.11 lakh crore in the next fiscal year starting April as they supplement the government's massive spending programme to spur economic growth. Oil and Natural Gas Corporation (ONGC), Indian Oil Corporation (IOC), GAIL (India) Ltd, Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) and Oil India Ltd (OIL) will together make a 7.4 per cent higher capital expenditure in the 2022-23 fiscal (FY23). The capex spending of Rs 1.11 lakh crore in 2022-23 compares with a revised estimate of Rs 1.04 lakh crore for the current fiscal year that ends in March, according to Union budget documents.
The government is likely to sell 20 per cent of its equity in Bharat Petroleum Corporation Ltd in the overseas market while another 15 per cent stake would be offloaded in the domestic markets.
The Union government may dilute its share in Bharat Petroleum Corporation Ltd to 26 per cent, an issue which goes to the Cabinet Committee on Divestment, company's director (marketing) S Radhakrishnan said.
Oil marketing companies IOC, BPCL and HPCL have invited expressions of interest from start-ups that wish to be enrolled as fuel entrepreneurs for doorstep delivery of high-speed diesel through mobile petrol pumps.
Bharat Petroleum Corp Ltd, which is expanding its Mumbai refinery to 12 million tonnes, will invest another Rs 1200 crore (Rs 12 billion) to produce auto fuel compliant with Euro-IV emission norms.
India's plan to produce ethanol from second-generation (2G) sources -- mainly farm waste -- is taking time to materialise even as the government is set to dedicate to the nation on Wednesday a Rs 900-crore plant set up by Indian Oil Corporation (IOC) in Panipat. Though state-run oil companies had decided to set up at least 12 plants in 2016-17 with an investment of around Rs 10,000 crore, this will be the first unit coming on track while others are stuck in various stages owing to issues like capital expenditure, lack of feedstock, and high rates of finished products compared to traditional ethanol units. According to industry sources, three more second-generation plants are coming up.
Brokerages expect Nifty50 companies to have cumulatively witnessed strong double-digit growth in their earnings in the first quarter of FY24 (Q1FY24). This growth in the combined earnings is expected to have been driven by banks, automakers, and oil & gas companies. Other sectors may report muted profit growth.
State exploration firm Oil and Natural Gas Corp on Thursday said it will take 26 per cent equity in Bharat Petroleum Corp Ltd's upcoming 6 million tonnes refinery at Bina in Madhya Pradesh.
Bharat Petroleum Corporation Ltd on Thursday said it lost Rs 1,200 crore (Rs 12 billion) in the first quarter of the current fiscal due to selling petrol, diesel, LPG and kerosene below cost price.
Bharat Petroleum Company Ltd has entered into a swap transaction worth Rs 100 crore (Rs 1 billion), making it the first interest rate derivative deal among the public sector entities in India.
The former beat Air India while the latter got the better of Bharat Petroleum in the semi-finals of the Shastri hockey tournament.\n\n
State-run Bharat Petroleum Corporation Ltd on Wednesday said it will invest up to Rs 350-400 crore (Rs 3.5-4 billion) this fiscal to add about 1,500
