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Bharat Petroleum Corporation Limited (BPCL) is an Indian public sector oil and gas company, headquartered in Mumbai. It is India's second-largest government-owned downstream oil producer, whose operations are overseen by the Ministry of Petroleum and Natural Gas. It operates three refineries in Bina, Kochi and Mumbai. [4]
Bharat Oman Refineries Limited (BORL) was incorporated in 1994 as a public limited company with equal equity participation of Bharat Petroleum and Oman Oil Company Ltd (now OQ). [2] [3] Work on the refinery at Bina however began only in 2006. [4]
BPRL also holds a stake in the special purpose vehicle (SPV), Urja Bharat Pte Limited, which bid for the Abu Dhabi exploration block. [ 7 ] The company reported a consolidated income of Rs 181 crore and a loss of Rs 96 crore for the financial year (FY) 2018-19, as opposed to a consolidated income of Rs 216 crore and a loss of Rs 68.72 crore in ...
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Formerly known as Cochin Refineries Limited and later renamed as Kochi Refineries Limited, it was acquired by Bharat Petroleum Corporation Limited in the year 2006. [3] The refinery is situated at Ambalamugal , around 12 km (7.5 mi) east of the city centre.
India also produces petroleum products and produced 233.51 Mt in 2020–21, a decline of 11.19% over the previous year. Among petroleum products, high speed diesel oil accounted for 43%, followed by motor gasoline (15%). Production of petroleum products grew by a CAGR of 1.56% over the previous decade. [15]
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OQ sold its stake in Bina refinery in March 2021, eventually giving its partner Bharat Petroleum Corporation Ltd. (BPCL) full control of BORL. [35] [36] In September 2021, an announcement was made that OQ was considering sale of its German subsidiary, Oxea, a chemicals business, for about $3 billion.