State-run Bharat Petroleum Corporation Ltd (BPCL) plans a significant capital expenditure of 25,000 crore for the financial year 2026-27, primarily for ongoing expansion projects. The company also stated that the recent 4-per-litre price hike in petrol and diesel has provided some financial relief amidst volatile crude oil prices and mounting losses.
Indian refiners are recalibrating their crude sourcing strategy due to supply disruptions in West Asia, leading to Venezuela and Brazil emerging as top five suppliers in April, replacing traditional sources like Iraq and the United States.
State-owned Bharat Petroleum Corporation Ltd (BPCL) is willing to dilute a 30-40 per cent stake in its upcoming greenfield refinery in Andhra Pradesh, with Gulf energy major Saudi Aramco and upstream player Oil India Ltd (OIL) likely to join as partners, a senior BPCL executive said.
Petrol price has been increased by 87 paise in Delhi from Rs 98.64 to Rs 99.51 per litre. Diesel rates have gone up by 91 paise from Rs 91.58 to Rs 92.49.
A Monaco-based fuel technology company, FOWE Eco Solutions, claims its patented Cavitech fuel emulsion technology can help industries slash fuel consumption, reduce emissions, and improve equipment performance by using water.
A Monaco-based fuel technology company, FOWE Eco Solutions, claims its patented Cavitech fuel emulsion technology can help India reduce fuel consumption, emissions, and improve equipment performance by using water in a fuel-oil-water emulsion.
'Once the currency goes out of the hand, then possibly your major challenge is that it will not come back.'
India possesses two months of fuel stockpiles and faces no supply concerns despite global energy disruptions, according to Oil Minister Hardeep Singh Puri. However, state-run fuel retailers are incurring losses of up to Rs 1 lakh crore in a single quarter due to elevated crude prices and unchanged retail fuel prices, raising questions about the sustainability of these losses.
State-run oil-marketing companies (OMCs) are unlikely to significantly raise petrol and diesel prices despite crude oil nearing $100 a barrel, leading to potential margin pressure, while CLSA analysts project a 65 per cent upside for ONGC's stock.
Of the 1.32 trillion capex target for FY26, State-run oil firms have already spent 1.07 trillion in the first 10 months.
Private-sector oil refiner Reliance Industries Limited (RIL) last week received a general licence from the United States (US) government to buy Venezuelan oil, an industry executive said.
Nayara Energy, a private fuel retailer in India, has increased petrol and diesel prices following a surge in global oil prices due to Middle East tensions. This move contrasts with state-owned retailers who continue to freeze prices.
In a first, Indian oil public sector undertakings (PSUs) finalised a one-year contract to import around 2.2 million tonnes (mt) of liquefied petroleum gas (LPG) from the US. The LPG import deal comes at a time when negotiations for an India-US bilateral trade agreement (BTA) are gathering steam. Earlier in the month, US President Donald Trump had said Washington and New Delhi were "pretty close" to reaching a fair trade deal.
US sanctions against two of Russia's largest oil companies are expected to impact Reliance Industries' crude imports from Russia, while state-run refiners may continue purchases through intermediary traders for now.
The government is likely to give a subsidy of Rs 30,000-35,000 crore to state-run oil companies - Indian Oil Corporation (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) - to compensate for losses incurred from selling LPG at below cost over the past 15 months, according to a senior official.
BPCL is a high revenue-earning public-sector undertaking (PSU) and plans to privatise it are completely off the table, Petroleum and Natural Gas Minister Hardeep Singh Puri said on Tuesday after assuming charge of the ministry for the second time. "Why would we divest ourselves of highly successful Maharatnas like BPCL," Puri said, arguing the Centre was not in favour of divesting its stake in oil PSUs.
Oil Minister Hardeep Singh Puri on Thursday indicated that the much-delayed privatisation of oil major BPCL may not happen in the near future, saying there is "no proposal whatsoever" on his table for now. As part of its asset monetisation plan, the government had in November 2019 put Bharat Petroleum Corporation (BPCL) on the block and said it would completely sell its 52.98 per cent stake in the country's second largest state-run oil refiner and marketer. Though it had received three tentative bids, it got only one financial bid from Vedanta group, forcing it in May 2022 to shelve the plan pending a "comprehensive review".
'BPCL has always been spoken about as a multinational company though it is State-run... this sets our work culture also apart.'
The fuel delivery scheme mainly targets consumers that buy in bulk.
Changing tracks helps. But, not taking the beaten path isn't always helpful. This is the story of two of India's biggest privatisations - Air India and Bharat Petroleum (BPCL). Nearly two decades after the last privatisation, a landmark divestment concluded this year when the loss-making national carrier Air India was sold to the Tatas.
India may have to lean more on West Asian nations for supplies of liquefied petroleum gas (LPG), a cooking fuel, in the coming years after Indian state-run refiners drew up big plans to diversify into producing more profitable petrochemicals. This shift leads to reduced LPG output, Indian refining executives said. The mantra for state-run oil companies, from Indian Oil Corporation (IndianOil) to liquefied natural gas (LNG) importer Petronet LNG, which are looking to diversify their businesses from lower-margin fuels, has been value-added petrochemicals.
Vijay Mallya-promoted Kingfisher Airlines has turned second time lucky; the state-run Bharat Petroleum Corporation (BPCL) has granted it a three-month reprieve to pay jet fuel dues. KFA owes BPCL Rs 220 crore (after adjustment of interest) for fuel dues.
The sale is key to meeting the government's disinvestment target of Rs 2.1 trillion in the financial year 2020-21. So far, the disinvestment exercise has fetched the government Rs 34,845 crore during the current financial year.
State-run Bharat Petroleum Corporation Ltd (BPCL) is planning to expand its fuel retail outlets with food courts, cinema halls and provision stores in Haryana, Punjab, Andhra Pradesh and Tamil Nadu.
The state-run Oil and Natural Gas Corporation may buy stake in Bharat Petroleum Corporation's 6 million tonne Bina Refinery.
State-run gas utility GAIL India and state refiner Bharat Petroleum Corp Ltd have floated a joint venture company to supply piped natural gas for domestic and commercial use
KFA owes BPCL Rs 220 crore or Rs 2.2 billion (after adjustment of interest).
At the same time, the Cabinet approved reducing government's stake in select PSUs such as IOC to below 51 per cent while continuing to retain management control.
Indian state-run oil giants HPCL and BPCL reported on Wednesday no supply disruptions as result of a two-day-old strike by workers opposing privatisation of the refiners.
India should learn to live with high energy prices for rapid economic growth, said Planning Commission Deputy Chairman Montek Singh Ahluwalia after two of the state-owned oil companies hiked petrol rates this week.
State-run Bharat Petroleum Corp has offered to take Hindustan Petroleum Corp as equal partner in the Rs 6,354 crore (Rs 63.54 billion) Bina refinery in Madhya Pradesh.
Sri Lanka has said it will go ahead with its deal with Bharat Petroleum Corporation Ltd in oil retailing in the island nation despite opposition from the Marxist JVP, or People's Liberation Front, in the coalition government.
A consortium of Bharat PetroResources, Videocon Industries and the US-based Anadarko Petroleum Corp have discovered additional oil in their block in the Campos basin, off the Brazilian coast.
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
State-run Bharat Petroleum Corp Ltd on Wednesday said it has tied up with Hindustan Lever Ltd and three other kitchenware brands for selling grocery items to its LPG customers through its distributor network.\n\n\n\n
The government is keen on getting global oil majors like Saudi Aramco and National Iranian Oil Corp on board Hindustan Petroleum and Bharat Petroleum through the market route even though privatisation of the state-run oil refining and marketing compa
State-run Bharat Petroleum Corporation Ltd on Monday said it is losing Rs 3 per litre on sale of diesel and Rs 2 per litre on petrol
Attorney General Soli Sorabjee has said the sale of stakes in two state-run oil refiners does not need parliamentary approval.
Officials from State-run refiners contend that savings from purchase of Russian oil are used to offset a part of the losses in revenues from selling transport fuels and LPG at State-set rates.
Global oil prices have slumped and India has access to larger amounts of discounted Russian crude oil, yet refiners are not passing on their savings to consumers
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