Stocks of oil marketing companies (OMCs), including IOC, HPCL and BPCL, fell between 2.2% and 4.9% on Thursday, a day after the Organization of the Petroleum Exporting Countries (OPEC) agreed to cut production after a gap of eight years.

The BSE Oil and Gas index closed at 11,881.25, down 83.07 points or 0.69%, while the Sensex closed down 92.89 points, or 0.35%.

India’s fastest growing digital payments platform FreeCharge has announced that it has partnered with all the three Oil Marketing Companies in India and will soon be available at all petrol pumps of IOCL, BPCL and HPCL across the country. The list includes nearly 26,000 petrol pumps of IOCL, nearly 13,500 petrol pumps of HPCL and nearly 13,800 petrol pumps of BPCL.

State-run Bharat Petroleum Corporation (BPCL)’s net profit grew 26% for the July-September 2016 quarter on the back of a higher other income Rs 1022.34 crore.

For the July-September 2016 ended quarter, the company reported a net profit of Rs 1305.18 crore, 26% higher than Rs 1034.52 crore in the same period a year back.

State-owned BPCL has received green nod to set up additional facilities at its Kochi refinery to meet the BS-VI quality auto fuel norms and establish new MS block, which will entail an investment of Rs 3,313 crore.

As per Auto Fuel Policy 2025, the government has laid down a roadmap for complete transition to Bharat Stage (BS)-VI auto fuel by April 2020 in the country.

Bharat Petroleum Corp Ltd (BPCL) plans to spend $6.75 billion through 2022 to raise refining capacity by 62 per cent to meet rising fuel demand in the world's fastest growing major economy, a company official said.

India is replacing China as the driver of global oil demand growth as its economy expands and a rising middle class buys motor vehicles. The International Energy Agency expects India to account for a quarter of global energy use by 2040.

Mumbai: Bharat Petroleum Corp. Ltd (BPCL) is planning to raise $500 million through a bond issue or an external commercial borrowing shortly, two people aware of the development said.

The state-run refiner will use the money to refinance a bridge loan it took to buy stakes in Tass-Yuryakh and Vankor, two oil fields operated by Rosneft OAO, a Russian government-owned energy giant. “BPCL is planning to raise funds to refinance an earlier loan taken for its Russian asset buy.

The Cabinet on Wednesday gave its nod to a consortium of IOC, Oil India and BPCL buying stakes in two Russian oilfields for a total of $3.14 billion.

Indian Oil Corp, Oil India and a unit of Bharat Petroleum Corporation (BPCL) will buy 29.9 per cent stake in Taas-Yuryakh oilfield in East Siberia for $1.12 billion and another 23.9 per cent in Vankor oilfield for $2.02 billion.

Reliance Industries (RIL), Bharat Petroleum Corporation (BPCL), Indian Oil Corporation (IOC) and Castrol India from the S&P BSE Oil & Gas index hitting their respective 52-week highs in intra-day trade on Monday.

At 03:07 PM, the S&P BSE Oil & Gas index was up 0.16%, as compared to 1.2% decline in S&P BSE Sensex. The index hit an intra-day high of 11,573, its highest level since September 10, 2014.

State-run Bharat Petroleum Corporation Ltd (BPCL) plans an initial public offering (IPO) for its Bina refinery joint venture (JV) company in the next financial year, top company official said.

The company also plans to start full operations of its expanded Kochi refinery project in the fourth quarter of the current financial year.

Mumbai: The first gas output from Mozambique’s Rovuma basin will take longer to be produced than anticipated. Bharat PetroResources Ltd (BPRL), the upstream arm of state-owned Bharat Petroleum Corp. Ltd (BPCL), said the gas will now be produced in 2020-21 instead of year 2019.

Capital expenditure for the basin is undergoing revision, thanks to the drop in crude oil prices and a subsequent drop in exploration service costs. The previously projected capital expenditure for the project was at $21 billion.

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