Bharat Petroleum Corporation Limited: 2nd Largest Refiner in India
Bharat Petroleum Corporation Limited is a Government owned oil and gas which is headquartered in Mumbai, Maharashtra. It is formed in 1977. Formerly the corporation was named as Burmah Shell Refineries Ltd. It was established in India as a distributor of kerosene. Then it introduced petrol pumps, lubricants, aviation fuel and LPG. In 1976 it was taken over by the Government of India and renamed as Bharat Petroleum Corporation Limited.
Bharat Petroleum offers a world class fuel station across the country. They engaged in the business of refining of crude oil and marketing of petroleum products. They sell Petrol, Diesel, Automotive LPG and CNG. They have a wide network of 13,439 world class Fuel Stations.
Now BPCL operates in 4 refineries including Mumbai Refinery, Kochi Refinery, Bina Refinery and Numaligarh Refinery, in India. They also exports products such as fuel oil, naphtha and base oil from its refineries.
BPCL play a vital role in the contribution of India’s progress. They plans to spend $6.75 billion through 2022. They plans to raise refining capacity by 62 percent to meet rising fuel demand in the world’s fastest growing major economy. It is the second-biggest state refiner in India. They aims to lift the crude oil processing capacity to 1.18 million barrels per day (bpd) by 2022 from the current 730,000 bpd.
The total income raises in December 2016 is Rs. 5,40,938.00 Crore which raises to Rs. 6,66,856.00 Crore in March 2017. The net profit decrease to 12.96 % in the fourth quarter. Their market capital is Rs. 102,692.42 Crore.