ABOUT:
The Ministry of Petroleum and Natural Gas oversees the activities of BPCL, India's second-largest downstream oil company. As per the "Global 2000" list published by Forbes in 2021, it was number 792 out of the "Global 2000" list of the world's largest firms in 2020.
It was founded in 1952 by the Bharat Petroleum Corporation (BPCL). It is a major player in the Indian petroleum industry. The petroleum industry in India is served by Bharat Petroleum Corporation Ltd (BPCL). Refinery and Marketing activities comprise the company's only segment, which comprises the petroleum industry in the downstream. They are also involved in hydrocarbon exploration and production (E&P).
HISTORY:
BPCL was originally named as Rangoon Oil and Exploration Company, and it was founded during British colonial authority in India to investigate the fresh finds off the coasts of Assam and Burma. The Burmah Oil Company was a major participant in the South Asian market in 1889, at a period of rapid industrialization. The Chef Rohit Oil Firm was created in 1871 to refine crude oil extracted from hand-dug wells in Upper Burma, and the company was incorporated in Scotland in 1886.
Asian Petroleum Company (India) and Burma Oil Company (Burma) began working together in 1928. In order to break the monopoly of John D. Rockefeller's Standard Oil, which was also known as Esso in India, Royal Dutch, Shell, and Rothschilds founded Asiatic Petroleum. Burmah-Shell Oil Storage and Distributing Company of India Limited was formed as a result of this partnership. Kerosene import and marketing were the company's first ventures.
The corporation began selling LPG cylinders to Indian households in the mid-1950s and developed its distribution network as a result. Kerosene, fuel, and petrol were sold in cans so that they could be distributed throughout India. Trombay (Mahul, Maharashtra) was chosen as the location for a refinery under an agreement with the Indian government in 1951.
OPERATIONS:
Refineries owned by Bharat Petroleum include the following:
located in the state of Maharashtra, India, is Mumbai Refinery. It is capable of producing 13 million metric tonnes of crude oil per year.
Kerala's Kochi Refinery is just outside the city limits of Kochi. It is capable of processing 15.5 million metric tonnes per year.
Bina Refinery: Located in the Sagar district of Madhya Pradesh, this refinery is situated near Bina. Approximately 7.8 million metric tonnes of material are produced each year. A joint venture between OQ and Bharat Petroleum, BORL was the first refinery in Oman to be established (formerly known as Oman Oil Company). Its crude oil terminal (COT) at Vadinar, Gujarat, and its 937-kilometer (582-mile) long cross-country pipeline from Bina, Madhya Pradesh, were both built by BORL, which was established in 1994. By the end of April 2021, BORL will be owned by BPCL.
In the Golaghat district of Assam, the Numaligarh Refinery is located. It is capable of producing three million metric tonnes annually. (Purchased by a group led by Oil India Ltd.
Seven SBUs (Strategic Business Units) make up the company's business, including retail, lubricants, aviation, refinery, gas, I & C, and liquefied petroleum gas (LPG).Like Petrocard and Smartfleet, they have well-known Loyalty Programs.
Even as recently as 2018, Bharat Petroleum Corporation Limited (BPCL) planned to put up a second-generation biofuels refinery at the Baulsingha hamlet in Bargarh district, Odisha. Approximately 2 Lakh tonnes of rice straw would be used to create fuel for the facility.
SUBSIDIARIES:
Indraprastha Gas Limited (IGL), a joint venture between Gas Authority of India Limited (GAIL), Bharat Petroleum Corporation Limited (BPCL), and the Government of Delhi, operates the Delhi City Gas Distribution Project.
Petronet LNG is a joint venture firm launched by Gas Authority of India Limited (GAIL), Oil and Natural Gas Corporation Limited (ONGC), Indian Oil Corporation Limited (IOC), and Bharat Petroleum Corporation Limited (BPCL) to import LNG and set up LNG terminals across the nation.
Bharat Renewable Energy Limited, a joint venture company promoted by BPCL with Nandan Cleantec Limited (Nandan Biomatrix Limited), Hyderabad and Shapoorji Pallonji Group, through their affiliate, S.P. Agri Management Services Pvt.Ltd., offers Biodiesel plants, ethanol, biodiesel plants, Karanj (Millettia pinnata), Jatropha and Pongamia plantation services, renewable generation services, etc. In 2013, Shapoorji Pallonji Group departed the joint venture.
DISINVESTMENT:
The Indian government authorized Bharat Petroleum Corporation's privatization on 21 November 2019. (BPCL). The government requested bids for its 52.99% interest on March 7, 2020. Starting with Numaligarh Refinery Ltd., the government decided to concentrate BPCL's activities before privatization (NRL). Honoring the Assam Peace Accord, the government opted to maintain NRL in the public sector. Bharat Petroleum Corporation Ltd (BPCL) sold its 61.5 percent share in Numaligarh Refinery in Assam for 9,876 crore in March 2021. BPCL also bought OQ's 36.62 percent share in Bharat Oman Refineries (BORL) or Bina refinery for 2,400 crore. BPCL owns 63.4% of the firm and OQ 36.6%. The Madhya Pradesh government owns compulsorily convertible warrants in the corporation. BPCL will control BORL after acquiring OQ's share.
In 2021–2022, India tried to sell BPCL.
The sale of BPCL has been delayed until 2022–2023, and the government is reportedly developing a new plan. Rising oil costs and the development and usage of renewable energy are also delaying the privatization process.
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