The Indian government has extended for the third time the deadline to submit bids for 52.98% of its stake in the country’s second-largest oil refiner, Bharat Petroleum Corp. Ltd. (BPCL), to September 30, due to Covid-19. The original deadline of June 13 was extended to July 31. The deal excludes BPCL’s 61.65% stake in Numaligarh […]

India’s Reliance Industries Limited (RIL), has surpassed ExxonMobil to become the world’s second largest energy company, after Saudi Aramco, with a market value of USD189 billion. Just this month, RIL, which is controlled by Asia’s richest man and the seventh richest in the world, Mukesh Ambani, closed four deals – including with BP, Google, Qualcomm, […]

The government is inviting bids for the sale of its entire 52.98% stake in India’s state-owned oil company, Bharat Petroleum Corporation Limited (BPCL). Deloitte Touche Tohmatsu India LLP has been appointed as the transaction advisor for the stake sale. The Centre will set the reserve price for the stake sale after receiving bids and the selected […]

India’s cabinet last week approved to divest the government’s stake in five state-owned companies, so-called public sector units (PSUs), including majority stakes in Bharat Petroleum Corp Ltd (BPCL), Shipping Corporation of India, Container Corporation of India (Concor), Tehri Hydro Development Corp of India, and North Eastern Electric Power Corporation (Neepco). The government plans to raise […]

Indian Prime Minister Shri Narendra Modi dedicated the Bharat Petroleum Corporation’s Integrated Refinery Expansion Complex and also laid the foundation stone of the Petrochemical Complex at Kochi Refinery on 27 January 2019. This marks the successful culmination of the Integrated Refinery Expansion Project (IREP), which was conceptualized to transform the Kochi Refinery into a world-class […]

India’s state-owned Bharat Petroleum Corporation Ltd (BPCL) plans to commission a second-generation (2G) ethanol biorefinery at Odisha’s Bargarh district at the end of 2020. Investment in the project is estimated to cost INR 10 billion (USD135 million). The foundation stone for the refinery will be laid on October 10 by Odisha Governor Ganeshi Lal and […]

Saudi Aramco will jointly develop and build an integrated mega refinery and petrochemicals complex at Ratnagiri, in the Indian state of Maharashtra with a consortium of state-owned oil companies, which includes Indian Oil Corporation Ltd. (IOCl), Bharat Petroleum Corporation Ltd. (BPCL), and Hindustan Petroleum Corporation Ltd. (HPCL). The refinery will be capable of processing 1.2 […]

India’s emergence as a global refining hub received a big boost with the three downstream public sector undertaking (PSU) oil majors, Indian Oil Corp., Bharat Petroleum Corp. Ltd. (BPCL) and Hindustan Petroleum Corp. Ltd. (HPCL), joining hands to build one of the world’s largest integrated refinery-cum-petrochemicals complexes in the Ratnagiri district of Maharashtra. The joint […]

Three of India’s largest state-owned oil companies–Indian Oil Corp. (IOC), Bharat Petroleum Corp. Ltd. (BPCL) and Hindustan Petroleum Corp. Ltd. (HPCL)–have signed an agreement to build India’s largest oil refinery at a cost of USD30 billion. IOC will own a 50% stake in the 60-million-tonne-per-annum oil refinery, while BPCL and HPCL will each own a […]

Bharat Petroleum Corporation Limited (BPCL) will build a second-generation biofuel plant at the Kochi Refinery site, which will convert agricultural and municipal waste into ethanol. India’s state-owned oil company will invest INR500 crores (USD74.8 million) in the biofuel refinery. “The ethanol can be mixed with petrol and used as a green fuel,“ said Union Minister […]