BPCL

Friday, Apr 19, 2024 | Last Update : 09:42 PM IST

Bharat Petroleum bid submission deadline extended for second time

It was extended in view of further requests from interested bidders and the prevailing situation arising out of COVID-19, the ministry said

30 Jul 2020 9:50 AM

The official said the government is expecting national oil companies from the Middle East, such as Aramco of Saudi Arabia and ADNOC of UAE, to join the bidding for BPCL.

Russia's Rosneft keen to bid for BPCL

The government is selling all of its 53 per cent stake in BPCL in the country's biggest privatisation plan.

05 Feb 2020 1:04 PM

The stake sale will follow a two-stage process of first inviting expression of interest (EoI) from potential bidders who will after due diligence will be asked to submit price bids in the second part, officials said.

BPCL asset valuer asked to submit valuation of company in 50 days

Cabinet Committee on Economic Affairs had on Nov 20 given a go-ahead for sale of government's entire stake in BPCL.

24 Nov 2019 11:34 AM

The government currently holds 54.80 per cent in Concor and will retain 24 per cent stake post sell-off

BPCL, SCI shares hit 52-week high after privatisation move

Shares of Shipping Corp also rose 2.12 per cent to hit a one year high of Rs 69.80 in opening trade but later pared the gains.

21 Nov 2019 1:05 PM

India has set a target of raising 1.05 trillion rupees (USD 14.6 billion) through the sale of state stakes in companies by March 2020.

Govt to offload Bharat Petroleum in state stake sell-off

Govt owns 63.75 per cent of Shipping Corp and a stake of 53.29 per cent in India’s second biggest state refiner BPCL.

21 Nov 2019 11:03 AM

Finance Minister Nirmala Sitharaman. (Photo: File)

Govt to sell Air India, BPCL by March 2020: Sitharaman

In 2018, government put up 76 per cent stake of Air India for sale, which saw a lukewarm response by investors.

18 Nov 2019 12:40 PM

Bharat PetroResources Ltd (BPRL), an exploration and production subsidiary of BPCL, had in August 2008 bought a 10 per cent stake in Area-1 Offshore of the Rovuma Block from the US energy major Anadarko Petroleum Corp for $75 million.

BPCL’s 2008 Mozambique deal under Government scanner

Videocon in 2013 sold the same stake to ONGC Videsh Ltd for $2.475 billion.

29 Oct 2019 1:22 AM

BPCL operates four refineries at Mumbai, Kochi in Kerala, Bina in Madhya Pradesh and Numaligarh in Assam with a combined capacity to convert 38.3 million tonnes of crude oil into fuel.

BPCL nationalisation act repealed in 2016; way clear for privatisation

BPCL at the close of market on October 4 had a market capitalisation of about Rs 1.11 lakh crore.

06 Oct 2019 1:44 PM

Govt plan to privatise BPCL needs Parliament nod

Even a 26 per cent stake sale at this valuation would fetch the government Rs 26,500.

29 Sep 2019 12:32 PM

A case of theft, cheating, criminal conspiracy, forgery and counterfeiting as per the IPC and the accused have been remanded to police custody till September 21 for further investigation.

3 tanker drivers held for BPCL oil adulteration

The police are on the lookout of one Akram Siddique, who is stated to be the kingpin of the racket that also operated in Gujarat and Madhya Pradesh.

18 Sep 2019 2:19 AM

The project is likely to be commissioned by 2022.

BPCL to invest Rs 1,500-1,700 cr in floating LNG terminal in AP

The company will hold 74 per cent interest in the project while the remaining 26 per cent will be with Petronet LNG Ltd.

26 Aug 2019 4:52 PM

After the Motera field was discovered in Ahmedabad, ONGC was wary of encroachment around the oil wells in a city that was developing into a megapolis. So it built a golf course around the wells to ward off encroachers, sources said.

Govt wants ONGC to sell golf course in Ahmedabad that has oil wells

The golf course identified by DIPAM has two producing oil wells, sources said.

14 Jul 2019 12:46 PM

BPCL and HPCL will take 25 per cent stake each in the Rs 9,000-cr project that involves laying of a pipeline from Kandla in Gujarat to Gorakhpur in Uttar Pradesh, the companies said in separate but almost identical regulatory filings.

BPCL, HPCL take 25 pc stake each in IOC's Rs 9,000-cr LPG pipeline project

IOC, which had in 2016 proposed laying of the pipeline, will hold the remaining 50 per cent stake.

04 Jun 2019 2:36 PM

The insurance cover has been underwritten by public sector non-life insurance companies.

BPCL’s insurance cost nearly doubles

The deductible/excess under loss of profit cover due to business interruption this year has increased to 45 days from 30 days in the last policy.

21 May 2019 2:42 AM

“The higher shareholder returns will put more pressure on the financial profiles of the companies, which have large investment plans for the next two years,” Fitch said. (Photo: File)

Fitch Ratings sees risks to OMCs as govt seeks more returns

Struggling to meet budget targets, the government had asked cash-rich PSUs to pay second interim dividend.

26 Apr 2019 2:26 PM

All four Indian state-owned refiners that buy Iranian oil are confident of securing additional barrels from other producers, said officials.

Indian refiners turn to OPEC, Mexico, US to make up Iran oil gap

Refiners have not yet placed orders for Iranian oil for May, when current waiver expires, pending clarity from US.

17 Apr 2019 4:55 PM

"The expansion in gas distribution networks is likely to increase gas consumption over the medium-to-long term, although industrial demand is likely to remain highly sensitive to prices," Fitch said.

City gas distribution rights to help oil marketing firms diversify: Fitch

IOC and HPCL won city gas distribution rights in nine geographical areas each last month, and BPCL got rights to two areas.

27 Mar 2019 7:08 PM

PNGRB has not yet given a final view on the issue.

PNGRB rejects HPCL review petition on ATF pipeline

HPCL may submit a comprehensive representation to the Board and appear for a hearing on April 5

24 Feb 2019 3:20 PM

The scrip of Indian Oil Corporation Ltd gained 5.54 per cent.

Shares of oil marketing cos jump up to 7.2 pc on easing crude prices

Brent crude prices fell 4.37 per cent, its biggest single-day fall in three months, to USD 76.24 barrel.

24 Oct 2018 6:26 PM

The Centre aims at creating two or three large entities with integrated operations across oil exploration, refining and marketing. (Photo: DC)

Govt plans to end anti-competitive, complex cross-holding in oil PSUs

Government divests its stake by taking the entire proceeds from sale of shares cross held by oil PSUs.

15 Oct 2018 8:46 AM

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Mohan Guruswamy