Shares of state-owned oil marketing companies (OMCs) are under pressure, falling by up to 7 per cent on the BSE in Monday’s intra-day trade as analysts expect OMCs may continue to struggle in the financial year 2025-26 (FY26) as the 2025-2026 budget did not provide the anticipated stimulus.

State-run Indian refiner Bharat Petroleum Corp is buying Middle Eastern crude to make up for less supply of cheaper Russian oil, its head of finance Vetsa Ramakrishna Gupta said in a recent interview.

Indian state refiners, which typically buy Russian oil in the spot market rather than under long-term contract, are unable to procure about 8 million to 10 million barrels of crude for January loading that they have previously seen available in the market, sources said earlier this month.

India's Bharat Petroleum Corp Ltd has bought its first crude oil cargo from Argentina, two trade sources said on Friday, part of the company's effort to diversify the grades processed at its refineries.

The state-run refiner has purchased the 1-million-barrel cargo of Medanito crude for February delivery from European trader Mercuria, the sources said.

Bharat Petroleum Corporation Limited (BPCL) signed a memorandum of understanding (MoU) with the Mumbai Port Authority (MbPA) and the Mumbai Port Sustainability Foundation (MPSF) to create a state-of-the-art green fuel ecosystem at Mumbai Port, the company said in a press statement.

This MoU represents a crucial advancement in India’s shift toward cleaner energy alternatives.

Petrol pump owners said PUC centres will be shut from Monday onwards, expressing their dissatisfaction over the recent proposed hike in rates of pollution certificates by the city government.

The operation of the pollution under control (PUC) centres is unviable, they said in a statement issued on Sunday.

Bharat Petroleum Corporation Limited (BPCL), a 'Maharatna' and a Fortune Global 500 Company has announced the appointment of Arun Kumar Singh as the Chairman and Managing Director of the company and consequently he has taken charge yesterday.

A Mechanical Engineer by qualification, Arun Kumar Singh was earlier Director (Marketing) on the Board of the company, holding additional charge of Director (Refineries) and Director (Finance).

Shares of Bharat Petroleum Corporation Limited (BPCL) rose 4 per cent and hit a 52-week high of Rs 488 on the BSE in intra-day trade on Thursday after the state-owned oil marketing company's board recommended a final dividend of Rs 58 per equity share, including one-time special dividend of Rs 35 per equity share of Rs 10 each, for the financial year ended March 31, 2021, subject to the approval of the shareholders.

In the past one month, the stock has outperformed the market by gaining 15 per cent, as compared to 5.5 per cent rise in the S&P BSE Sensex.

Shares of Bharat Petroleum Corporation (BPCL) dipped 6 per cent to Rs 438 on the National Stock Exchange (NSE) in intra-day trade on Tuesday after BPCL Trust for Investment in Shares (BPCL Trust) sold up to 7 per cent of its stake in state-owned energy company through a block deal.

Till 09:21 am, around 153.66 million equity shares, representing 7.08 per cent of total equity, of BPCL had changed hands on the NSE.

Investor sentiment towards state-owned oil marketing companies (OMCs) such as Hindustan Petroleum (HPCL), Bharat Petroleum (BPCL) and Indian Oil (IOC) has improved sharply with crude oil prices falling to 18 year low. Shares of the OMCs, after hitting 52-week lows recently, rebounded by up to 15 per cent on Tuesday. And, they could see further gains.

The soft crude oil prices bode well for these companies, which may see a rise in their marketing margins, decline in working capital requirements and zero risks of subsidy burden.

Shares of oil marketing companies (OMCs), including Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL), skid up to 4 per cent on the BSE after oil prices rose for the second straight day on Wednesday.

At 9:43 am, Brent Crude Futures were at $38.45 per barrel-mark, up 3.3 per cent, while the US WTI was at $35.26/bbl, up 2.62 per cent. This comes after an over 8 per cent rise in the oil prices on Tuesday. Prices inched higher on hopes of a supply cut by US producers.

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