Bharat PetroResources, a wholly owned subsidiary of BPCL and Videocon Industries, holds 40 per cent of the block. Brazil's Petrobras holds the remaining 60 per cent.
Petrol and diesel prices are unlikely to be increased despite firming raw material costs because of upcoming general elections next year, Moody's Investors Service said. Three state-owned fuel retailers -- Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) -- which control roughly 90 per cent of the market, have kept petrol and diesel prices on freeze for a record 18 months in a row. This is despite the raw material (crude oil) cost surging last year, leading to heavy losses in first half of 2022-23 fiscal year before easing oil prices propelled them to profitability.
The government on Tuesday provided enhanced financial autonomy to two public sector units -- Bridge and Roof Company and Bharat Pumps and Compressors -- by granting them the 'mini-ratna' status.
State-owned Bharat Petroleum Corporation Ltd will commission the Rs 6,354 crore (Rs 63.54 billion) Bina refinery in Madhya Pradesh in two years' time.\n\n\n\n
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.
Most brokerages are betting that the new government will shift to a policy focussing on boosting rural incomes and consumption since that has clearly been a pain point.
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.
Bharat Petroleum Corp, Hindustan Petroleum Corp and IBP will turn financially sick by next year as losses arising from freeze on fuel prices are set to erode their net worth, according to oil ministry estimates.
'He was the best court craftsman that I have ever seen who could modulate his arguments in accordance with the judge and the mood.'
While BPCL has been ranked third in the poll, Reliance is at the fourth position adn HPCL 8th.
Bharat Petroleum Corporation Limited will invest Rs 7,500 crore in the next five years to modernise and expand its operations. \n\n
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.
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.
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.
Oil marketing company Bharat Petroleum Corporation Ltd, on Monday announced a mega foray into oil exploration and production business and has earmarked a budget of Rs 1,000-1,500 crore (Rs 10-15 billion).
The government is likely to finalise by the third week of this month, the advisor for divestments of Bharat Petroleum Corporation Ltd for which over half a dozen merchant bankers are in the race.\n\n\n\n
The top 100 companies have accounted for 63% of the gains (Rs 51 trillion out of Rs 81 trillion), while firms beyond the top 100 have contributed 37 per cent (Rs 30 trillion).
Kicking-off the process of divestment in Bharat Petroleum Corp, government has invited bids for appointment of a global advisor for sale of 35.2 per cent stake in the oil PSU through public offer.
The government on Monday budgeted Rs 1.75 lakh crore from stake sale in public sector companies and financial institutions, including 2 PSU banks and one general insurance company, in the next fiscal year beginning April 1. The amount is lower than the record Rs 2.10 lakh crore which was budgeted to be raised from CPSE disinvestment in the current fiscal year. However, the COVID-19 pandemic impacted the government's CPSE stake sale programme, and the target has been lowered to Rs 32,000 crore in the Revised Estimates.
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 state-owned refiner has offered 15,000 tonnes in a tender.
Indian Oil Corporation (IOC) on Tuesday reported halving of its March quarter net profit largely because of losses in the petrochemical business and shrinking margin after it announced a pre-election fuel price cut despite rising input costs. The net profit of Rs 4,837.69 crore in January-March compared to Rs 10,058.69 crore a year back and Rs 8,063.39 crore in the preceding October-December quarter, according to a stock exchange filing by the company.
For BCPL's branded petrol, Speed, the price differential with regular petrol is now between Rs 2.74 and Rs 3.75 per litre.
According to an Andhra government statement, Naidu 'reposed confidence' in the PM's leadership.
S K Joshi, director (finance), BPCL, says that the Indian basket has fallen below $64 per barrel in September and he expects to receive oil bonds shortly.
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.
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.
Bharat Petroleum Corporation Ltd will import 1.4 million barrels (0.2 million tonnes) of Iraqi Basra Light crude oil during September-December.
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
The government will complete the sale of cash-rich oil refiners Hindustan Petroleum Corporation and Bharat Petroleum Corporation in six to eight months, Divestment Minister Arun Shourie said on Wednesday.
Bharat Petroleum Corporation (BPCL), the country's second largest oil marketing company, plans to diversify into bottled water and direct to home (DTH) services in an attempt to boost its profits.
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 and Natural Gas Corp, said on Monday it had signed an agreement to supply crude oil to refiner Bharat Petroleum Corp Ltd for two years ending March 2004.\n\n\n\n
Benchmark indices--Sensex and Nifty--were 0.7-0.8 per cent higher from the Saturday closing. Among the widely-tracked Nifty 50 stocks, 39 advanced and the rest 11 declined at the opening bell. Among the individual stocks, Cipla, ICICI Bank, Sun Pharma, Power Grid Corp, and Bharti Airtel were the top five gainers, while Asian Paints, Hindustan Unilever, Britania, HDFC Bank, and BPCL the losers, NSE data showed. On Monday, Indian stock exchanges were closed for trading on the occasion of Pran Pratistha of Ram Temple in Ayodhya.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
Bharat Petroleum made the grade from Pool Y of the semi-final league stage on goal difference.
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