New Delhi [India], October 12 (ANI): The Cabinet on Wednesday approved the proposal of the ministry of petroleum & natural gas to give one-time grant of Rs22,000 crore to three state-run oil marketing companies (OMCs) for the losses incurred in domestic LPG business.

Kochi (Kerala) [India], August 10 (ANI): Indian Coast Guard on Wednesday started its two-day seminar cum workshop on marine pollution response in No. 4 Coast Guard District Headquarters (Kerala and Mahe) with an aim of increasing knowledge and cohesiveness among government and non-government organizations such as port authorities, oil companies, fisheries, and other agencies on the subject.

Mumbai (Maharashtra) [India], May 26 (ANI/PRNewswire): Bharat Petroleum, the second-largest Indian Oil Marketing Company and one of the premier integrated energy companies in India, has posted a net profit of Rs 8,788.73 Crore in FY22.

Dehradun (Uttarakhand) [India], May 20 (ANI): Uttarakhand Government on Thursday signed a memorandum of understanding (MoU) with Bharat Petroleum Corporation Limited for the development of new and renewable energy projects in the state.

New Delhi [India], May 11 (ANI): Government-run oil marketing companies - Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) - have entered into a long-term purchase agreement for upcoming dedicated ethanol plants across India, the Ministry of Petroleum & Natural Gas said on Wednesday.

Mumbai (Maharashtra) [India], April 25 (ANI): The share price of Bharat Petroleum Corporation Limited (BPCL) tumbled by more than 6 per cent on Monday on reports that the government has put a pause on disinvestment of the company.

New Delhi Mar 25 PTI Petrol and diesel prices were hiked by 80 paise a litre each on Friday the third increase in four days as oil firms recoup losses from holding rates during the period prior to the recently-concluded assembly elections Petrol in Delhi will now cost Rs 9781 per litre as against Rs 9701 previously while diesel rates have gone up from Rs 8827 per litre to Rs 8907 according to a price notification of state fuel retailers The increases are the steepest single-day rise since the daily price revision was started in June 2017 With three increases beginning March 22 petrol and diesel prices have gone up by Rs 240 a litre A record 137-day hiatus in rate revision ended on March 22 with an 80 paise per litre increase in rates and similar proportion hikes have followed in subsequent days Prices had been on a freeze since November 4 ahead of the assembly elections in states like Uttar Pradesh and Punjab -- a period during which the cost of raw material crude oil soared by USD 30 per barrel The rate revision was expected soon after assembly elections ended on March 10 but it was put off Oil companies are now recouping the losses Moodys Investors Services says fuel retailers IOC BPCL and HPCL together lost around USD 225 billion Rs 19000 crore in revenue for keeping petrol and diesel prices on hold during elections in five states Oil companies will need to raise diesel prices by Rs 131-249 per litre and Rs 106-223 a litre on gasoline petrol at an underlying crude price of USD 100-120 per barrel according to Kotak Institutional Equities CRISIL Research said a Rs 9-12 per litre increase in retail price will be required for a full pass-through of an average USD 100 per barrel crude oil and Rs 15-20 a litre hike if the average crude oil price rises to USD 110-120 India is 85 per cent dependent on imports for meeting its oil needs and so retail rates adjust accordingly to the global movement PTI ANZ RAM

New Delhi [India], March 22 (ANI): The government has received multiple Expressions of Interest (EoIs) for privatisation of Bharat Petroleum Corporation Limited (BPCL), and the transaction is in the second stage of the process, Union Minister of State for Finance Bhagwat Kisanrao Karad said on Tuesday.

Thiruvananthapuram Feb 28 PTI Kerala Chief Minister Pinarayi Vijayan on Monday shot off a letter to Prime Minister Narendra Modi urging him not to discontinue the Polyol Project proposed as part of the expansion of the BPCL Kochi In his letter Vijayan sought Modis intervention to direct the BPCL authorities to continue with the Polyol Project and to accord expeditious approval for the project The Chief Minister said it is understood that the Board of Bharat Petroleum Corporation BPCL has decided to discontinue the project envisaged under the Make in India initiative and was announced by the Government of India It is a very serious matter that has long-term implications for the industrial development of Kerala he said Noting that the Prime Minister himself laid the foundation stone for this project in Kochi on January 27 2020 under the Make in India project Vijayan said the state government has also taken proactive steps to set up a Petro Chemical Park in 481 acres of land belonging to FACT Ambalamugal at a cost of Rs 977 crore He said the project leverages upon the proposed expansion of the BPCL through the Propylene Derivative Petrochemical Project PDPP and Polyo Projects and its proximity It is expected to have an investment potential of Rs 9500 crore and generate employment for 1000 persons BPCL has become the anchor investor and the State Government has already allotted 170 acres of land to the company for the project the Chief Minister said in the letter He said the state government is also taking up infrastructure development works in the Petro Chemical Park to the tune of Rs 200 crore In this context discontinuing the proposed Polyol Project will have cascading implications for the State as we have already made substantial investments in terms of land infrastructure development and other activities the Chief Minister said and sought intervention of the PM to direct the BPCL authorities to continue with the project in Kochi and to accord expeditious approval for it PTI TGB SS TGB SS SS

Mumbai (Maharashtra) [India], February 23 (ANI/NewsVoir): Sanjay Khanna takes over as Director Refineries, BPCL on 22nd Feb'22. A Chemical Engineering graduate from NIT, Tiruchirapalli and Post Graduate in Finance Management from Mumbai University, he has more than 30 years of experience in Refinery Operations.