BPCL

Analysts said Street is worried that sustained oil price hike could put pressure on OMC margins as govt may not pass the entire burden on to customers

Hindustan Petroleum Corporation Ltd (HPCL) on Thursday said it has signed a pact with Bharat Petroleum Corporation Ltd (BPCL) for synergy in purchase and sale of hydrogen between the refineries the two firms operate in Mumbai. Hydrogen is an essential utility required for treating of diesel and petrol to produce low-emission fuel of Euro-VI or Bharat Stage VI specifications, and is vital for reliable and safe refinery operations. "A Memorandum of Understanding (MoU) was signed between HPCL Mumbai refinery and BPCL Mumbai refinery as part of synergy through purchase and sale of hydrogen," the company said in a statement. The one-of-a-kind strategic partnership between two oil marketing companies is part of synergy for "mutual aid during emergencies and towards environmental impact by minimizing valuable hydrogen flaring," it said. "This initiative envisages cooperation and collaboration as part of synergy in the areas of hydrogen exchange between both refineries for sustained refiner

G Krishnakumar has taken over as the new chairman and managing director of Bharat Petroleum Corporation Ltd (BPCL), the company said on Friday. Krishnakumar, an electrical and electronics engineer from National Institute of Technology, Tiruchirappalli and a postgraduate in finance management from Jamnalal Bajaj Institute of Management Studies, Mumbai, was executive director in the company before his elevation. Government headhunter, the Public Enterprise Selection Board (PESB) had, in December last year, picked up Krishnakumar over company's Director (Finance) Vetsa Ramakrishna Gupta, Director (Refineries) S Khanna, and Director (Marketing) Sukhmal Kumar Jain. A company statement said Krishnakumar has taken over as the chairman and managing director of the company. "He is an avid quizzer and a voracious reader. He is also a passionate cricket fan and a golfer," it said. Krishnakumar replaces Arun Kumar Singh, who retired as chairman in October 2022. Post that, Gupta was holding ..

BPCL's market sales for the December quarter stood at 12.81 MMT versus 11.21 MMT reported last year

The state-run refiner also plans to shut half of its 240,000 bpd Mumbai refinery in western India for three to four weeks in September-October for maintenance

According to the technical analyst from Anand Rathi, BPCL and Wipro can pullback to Rs 270 and Rs 430, respectively.

Diesel leaked from a pipeline of the Bharat Petroleum Corporation Limited (BPCL) in Maharashtra's Thane district on Thursday morning following which the area was cordoned off for the repair work, a civic official said. The leakage in the 18 inches high pressure diesel pipeline started at 5.21 am near a gas godown at Shil in Thane and the fuel spilled in the area, Thane Municipal Corporation's Regional Disaster Management Cell chief Avinash Sawant said. After the incident, Turbhe police from Navi Mumbai, local firemen and a BPCL team rushed to the spot and started the work to plug the leakage, the official said. Police cordoned off the area, he said. The diesel pipeline was shut between Mumbai and Manmad for the repair work, he said. It is a 252 km-long pipeline. The company could not be immediately contacted for a response.

According to the technical analyst from Anand Rathi, BPCL can rally to Rs 365; while Thomas Cook can jump to Rs 88.

New board level positions also created at ONGC with an eye on emerging global trends in oil and gas

Arun Kumar Singh, former chairman of oil refining and marketing company BPCL, was on Wednesday appointed chairman and managing director of ONGC -- the first instance of a retired person being appointed the head of a Maharatna PSU. "The Appointments Committee of Cabinet (ACC) has approved the proposal of Ministry of Petroleum and Natural Gas for appointment of Arun Kumar Singh, ex-CMD, BPCL as Chairman, ONGC for a three-year tenure with effect from the date of his assumption of charge of the post," an official order said. PTI first reported of Singh's appointment on November 17. Oil and Natural Gas Corporation (ONGC) is India's top oil and gas producer. A mechanical engineer from National Institute of Technology, Patna, Singh was Director (Marketing) of Bharat Petroleum Corporation Ltd (BPCL) from October 2018 to September 2021, after which he was elevated as chairman and managing director of the company. Singh retired as BPCL head 13 months later in October 2022. A ...

Despite losing its place to Russia in India, the world's third biggest oil importer, the kingdom is confident it holds the cards for crude supplies in the long term

The government deplores the lack of good leadership in these companies but it adds to the problem with sub-optimal appointment practices for chief executives in this sector

Oil refining and marketing company BPCL's former chairman Arun Kumar Singh is likely to be the new chairman of India's top oil and gas producer ONGC -- the first instance of a top PSU board-level position going to a person aged over 60. A search-cum-selection committee, constituted by the oil ministry, zeroed in on Singh after interviewing six candidates on August 27, two sources aware of the matter said. Singh retired after attaining the superannuation age last month and was already selected to head the Petroleum and Natural Gas Regulatory Board (PNGRB) before the August 27 interviews. If his selection is approved, Singh will get three years as head of the cash-rich PSU (Public Sector Unit). Oil and Natural Gas Corporation (ONGC) is without a regular chairman and managing director since April 2021 and the senior most director on the board has been entrusted with the additional charge. Since then, the firm has seen a record three interim heads. Sources said Singh became eligible f

Their expectation is based on the recent action in October by the OPEC of cutting production by 2 million barrels per day. This suggests that the OPEC is looking to defend price, they said

CLOSING BELL: The Nifty PSU Bank index sharply outperformed other indices as it gained 4.5 per cent

Servotech Power Systems has bagged a Rs 46.2 crore order from Bharat Petroleum Corporation Ltd (BPCL) for supplying and installing a series of EV Chargers at different locations across the country in the next four months. The project to supply and install 800 units of DC fast EV Chargers has already been initiated from Delhi and is expected to be completed by March 31, 2023, a company statement said. The project will span across the country, equipping petrol pumps in major Indian cities with EV Charging capabilities on its course. As part of this project, Servotech will take care of installation, commissioning, and maintenance of DC fast chargers at a range of locations involving BPCL's retail sites and fuel and gas stations, as suggested by BPCL. The project will help ensure the deployment of e-mobility touchpoints that address transactions, availability, discovery, and navigation in order to give users of electric vehicles easy access to the charging network. "This project will

Vetsa Ramakrishna Gupta on Tuesday assumed additional charge as chairman and managing director of Bharat Petroleum Corporation Ltd (BPCL) -- the second 'Maharatna' oil PSU to get an interim head in the absence of a regular appointment. Gupta, Director (Finance) at BPCL, succeeds Arun Kumar Singh, who superannuated on October 31, a company statement said. Government headhunter Public Enterprises Selection Board (PESB) had in March this year advertised for the post of chairman and managing director of BPCL to look for a successor for Singh. The applications for the job closed on June 1 but PESB is yet to recommend a candidate, necessitating the appointment of an interim head. Singh retired after serving as chairman and managing director of BPCL for 13 months. His successor, Gupta, 51, is the senior most director on the company board and has thus been given the additional charge. He will superannuate in June 2031. BPCL is the second oil PSU to get an interim head. Oil and Natural Ga

Seven persons were injured, two of them seriously, in a blast that occurred when petrol was being filled in the container of a tanker at a Bharat Petroleum Corporation Limited's (BPCL) depot on the outskirts of Bhopal, an official said on Saturday. The incident took place on Friday evening at the oil depot located in Bakania area, Khajuri police station in-charge Sandhya Mishra said. The "unexpected fire" was being investigated, BPCL said in a statement later. "Seven persons were injured in the blast. While six of them are either drivers or helpers of Hindustan Petroleum Corporation Limited (HPCL) who were there to get fuel filled in their tankers, one is an employee of BPCL," she said. Two of them were seriously injured and undergoing treatment at a private hospital, Mishra added. While the exact cause of the fire is yet to be ascertained, the police official said a short-circuit could be the reason. In a statement, the state-run BPCL said, "An unexpected fire occurred at our PO

Bharat Petroleum Corporation Limited (BPCL) has aimed to convert its 7,000 conventional retail outlets into energy stations providing multiple fueling options including electric vehicle (EV) charging facility, in the medium to long term. BPCL on Friday announced the launch of EV fast-charging stations on two corridors in the southern region -- Bangalore-Chennai and Bangalore-Mysore-Coorg Highway. The chargers are strategically located at nine of its fuel stations with an approximate distance of 100 km on both sides of the routes, a company statement said. BPCL plans to provide EV charging stations at its fuel pumps at periodic intervals on all major national highways connecting major cities and economic centres in the country, it said. "...BPCL aims at accelerating its focus on new business segments and converting its 7,000 conventional Retail Outlets into Energy Stations providing multiple fueling options, which will also include EV charging facility, in the medium to long term,"

State-owned oil marketing companies IOC, BPCL and HPCL may for the first time ever post the second consecutive quarterly loss with a combined loss of Rs 21,270 crore in July-September, on holding petrol and diesel prices below the cost of production. The three state-owned firms -- Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL), had in the first quarter of the current fiscal year (April-June) posted a combined loss of Rs 18,480 crore due to erosion in the marketing margin on petrol, diesel and domestic LPG. "The three oil marketing companies IOC, BPCL and HPCL remain trapped in the quagmire of weak marketing losses and there is not enough traction in refining margins," ICICI Securities said in a sector report. The three firms are to announce second quarter earnings later this month or in early November. In the first quarter, record refining margins were wiped away by losses booked on not revising petrol and diesel