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Bharat Petroleum Related news

IOC, BPCL,HPCL to borrow more to keep up capital spend:Moody’s

IOC, BPCL,HPCL to borrow more to keep up capital spend:Moody’s

New Delhi: State-owned fuel retailers Indian Oil Corp. (IOC), Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (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 on Tuesday.

The rating agency expected dividend payments by the three companies to drop modestly in 2017-18, but remain higher than in 2015-16. The government expects to receive Rs67,500 crore of dividends from all state-owned companies in 2017-18, less than Rs77,000 crore estimated to have been received in 2016-17, but more than double than Rs30,800 crore in 2015-16.

IOC, BPCL, HPCL stock dives as government may ask PSUs to bear further increase in oil price

IOC, BPCL, HPCL stock dives as government may ask PSUs to bear further increase in oil price

Shares of the IOC, BPCL, and HPCL tumbled on the news that government may ask the oil marketing companies to absorb further increase in global crude oil prices. The stock of the nation’s largest company Indian Oil Corporation fell as much as 6.2% to the day’s low of Rs 408; shares of another state-run refiner Bharat Petroleum Corporation plunged 8.4% to the day’s low of Rs 489. Shares of Hindustan Petroleum Corporation lost 8% to the day’s low of Rs 443.7.

Bharat Petroleum to spend Rs 1.08 lakh cr in capex over 5 years

Bharat Petroleum to spend Rs 1.08 lakh cr in capex over 5 years

Bharat Petroleum, which has just been upgraded to a Maharatna company, today said it has lined up capital expenditure of Rs 1.08 trillion for the next five years.

The public sector oil retailer will spend the money on capacity expansion of refineries as well as marketing and upstream activities, its chairman and managing director D Rajkumar told reporters at a post-AGM press meet here late evening.

BPCL lines up Rs 18,000 crore for refinery expansion

BPCL lines up Rs 18,000 crore for refinery expansion

State-run Bharat Petroleum Corporation Ltd (BPCL) is set to invest at least Rs 18,000 crore on expansion of its refineries in the next five years, in order to add another 19 million tonne (mt) refining capacity.

This will be part of the company’s overall road map to spend Rs 1.08 lakh crore till 2021-22. “Including our subsidiaries, our refining capacity is somewhere about 31 mt, we are planning to move closer to 50 mt by somewhere around 2022. This will see an investment of approximately about Rs 18,000 crore,” D Rajkumar, chairman and managing director of BPCL, told Business Standard.

Indian Oil, HPCL, BPCL gain on report of kerosene subsidy removal

Indian Oil, HPCL, BPCL gain on report of kerosene subsidy removal

Shares of state-owned oil refiners rallied by up to 5% on BSE in intra-day trade on report that the government will end subsidy on kerosene.

Indian Oil Corporation (IOC) gained 5% to Rs 388, while Hindustan Petroleum Corporation (HPCL) surged 4.4% to Rs 401 and Bharat Petroleum Corporation (BPCL) rose 3% to Rs 499 on BSE in intra-day trade. On comparison, the S&P BSE Sensex was down 159 points or 0.49% at 32,318 at 10:25 am.

BPCL takes back petrol pump from Lalu Prasad’s son Tej Pratap Yadav

BPCL takes back petrol pump from Lalu Prasad’s son Tej Pratap Yadav

PATNA: Bharat Petroleum Corporation Limited (BPCL) on Thursday asked RJD chief Lalu Prasad's son Tej Pratap Yadav and his firm M/S Lara Automobiles to hand over to it, with immediate effect, the operation, assets and materials of a pump allotted to him here.

In June, BPCL had terminated the allotment on the grounds that Tej, a minister in the state government, had furnished false information and concealed facts when he applied for the pump in 2012.

Bharat Petroleum makes its first US oil purchase, buys Mars, Poseidon

Bharat Petroleum makes its first US oil purchase, buys Mars, Poseidon

Bharat Petroleum Corp has made its first purchase of U.S. oil, buying high sulphur crudes Mars and Poseidon in a tender, its head of refineries R. Ramachandran said.

BPCL is the second Indian refiner to buy U.S. Gulf crude after Prime Minister Narendra Modi's visit to Washington last month when President Donald Trump said the United States looked forward to exporting more energy products to the world's third-biggest oil buyer.

Larsen & Toubro, BPCL trade ex-bonus

Larsen & Toubro, BPCL trade ex-bonus

Shares of two Nifty 50 companies, Larsen & Toubro (L&T) and Bharat Petroleum Corporation Limited (BPCL) are trading at their adjusted price of 1:2 bonus shares.

The board of directors of L&T and BPCL during last week of May, 2017, had approved issue of bonus shares in the ratio of 1:2 (i.e. one bonus equity share for every two fully paid equity shares held). L&T has fixed July 14, while BPCL fixed July 15 as the record date to identify eligible shareholders for the purpose of bonus shares.

BPCL plans to buy US crude oil for first time via 1-million-barrel tender

BPCL plans to buy US crude oil for first time via 1-million-barrel tender

Indian refiner Bharat Petroleum Corp Ltd plans to buy its first ever cargo of crude oil from the United States, a tender document showed on Monday.

BPCL is seeking at least 1 million barrels of crude either for loading on Aug. 16-Sept.5 or delivery on Sept. 26-Oct. 15, it said.

Oil firms face inventory losses as crude prices decline

Oil firms face inventory losses as crude prices decline

Mumbai: Oil prices are at a seven-month low of $45.17, having fallen 20.5% since January 2017 following rising crude production in the US, Libya and Nigeria.

Although this is not a cause for worry in the short term for Indian oil marketing companies (OMCs) Indian Oil Corp. Ltd (IOCL), Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (HPCL), falling crude prices over an extended period could hurt.

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