BHARAT PETROLEUM CORP LT (BPCL)
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IOC, BPCL, HPCL swing to ₹30,106 crore Q2 profit
The three state-run fuel retailers reversed a year-earlier combined loss of ₹18,150 crore, with Indian Oil Corporation posting its highest-ever standalone quarterly net profit. Refining margin gains and inventory gains more than offset losses on fuel sales and a growing unpaid LPG subsidy bill, even as petrol and diesel prices stayed frozen since May. The ₹30,106 crore total equals nearly 39% of the trio's annual earnings.
Tata Power, BPCL sign ₹250cr MoU for Mumbai refinery power infra
Tata Power and Bharat Petroleum Corporation Ltd (BPCL) have signed a memorandum of understanding (MoU) to develop ₹250 crore power infrastructure for BPCL’s Petro Resid Fluidized Catalytic Cracking Unit (PRFCCU) project at its Mumbai refinery. Under the agreement, Tata Power will provide the 110 kV connectivity and undertake the design and development of the associated power infrastructure.
ICRA flags ₹530cr daily fuel losses for state-run OMCs
3 Min Read State-run oil marketing companies are facing mounting losses on petrol and diesel sales as a surge in crude prices outpaces unchanged domestic fuel prices, rating agency ICRA said. Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) are losing ₹8 a litre on petrol, and ₹9 on diesel, while under-recoveries on domestic liquefied petroleum gas (LPG) stood at about ₹300 per cylinder, ICRA said.
BPCL to expand Kochi refinery capacity to 17 mmtpa
Bharat Petroleum Corporation Limited (BPCL) plans to expand the refining capacity of its Kochi Refinery to 17 million metric tonnes per annum (mmtpa) from the current 15.5 MMTPA as it looks to deepen refinery-petrochemical integration and expand its higher-value product portfolio, Chairman and Managing Director Sanjay Khanna said.
ONGC invests ₹200 crore in EESL rights issue
The investment was made on August 18, through subscription to 5.71 crore equity shares of EESL on a rights basis, at a face value of ₹10 per share and a premium of ₹25 per share. 2 /7Balkrishna Industries Ltd | Off-highway tyres major said it has approved raising up to ₹550 crore through non-convertible debentures (NCDs) on a private placement basis.
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IOCL, HPCL petrol samples record over 30% ethanol, alleges Karnataka government; demands action | Today News
Story first reported.