State-owned fuel retailers IOC, BPCL and HPCL will go in for increased borrowings to sustain high dividend payments and capital spending this fiscal, keeping their credit metrics weak, Moody’s Investors Service said today.
Bharat Petroleum Corp (BPCL), India’s second largest fuel retailer, informed Bombay Stock Exchange (BSE) its board has approved the draft scheme for amalgamation of Petronet CCK Limited (PCCKL), a wholly owned subsidiary for integrated operations and better control.
Bharat Petroleum Corporation Limited (BPCL), India’s second largest state-owned oil marketer is mulling a merger with GAIL (India), India’s largest gas distributor, and Oil India
Bharat Petroleum Corporation Ltd. (BPCL) is looking to invest about Rs 45,000 crore in its petrochemical business over the next five years.
State-run Bharat Petroleum Corporation (BPCL) is all set to become a Maharatna company. The oil marketing company is at present a Navratna firm.
Six central oil & gas PSUs, viz., IndianOil, ONGC, BPCL, HPCL, GAIL and OIL, under the administrative control of the Ministry of Petroleum & Natural Gas, have contributed Rs. 15 crore to the Flood Relief Fund of the Chief Minister of Bihar to aid the flood-affected people of the State.
BPCL is on an expansion binge. The state-owned refiner plans to invest Rs 18,000 crore over the next five years on expansion plan which would take its refining capacity from 31 million tonne (mt) to 50 mt.
Energy Efficiency Services Limited (EESL) plans to start sale of LED bulbs via petrol pumps from UP and Maharashtra and would expand to other states later.
Mindful of threat posed by electric vehicles and renewable to the oil demand in future, India’s state-owned refiners are investing big time into petrochemical projects.
Bharat Petroleum Corp Ltd (BPCL) on Thursday said it has bought 1 million barrels from the US — in two consignments a first for the midstream and downstream oil refiner