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BPCL to spend Rs 1.4 lakh crore on petchem, gasoline enterprise – Occasions of India- Newslength

NEW DELHI: State-owned Bharat Petroleum Company Ltd (BPCL) will make investments Rs 1.4 lakh crore in petrochemicals, metropolis gasoline and clear power within the subsequent 5 years because it seems to non-fuel companies for development. BPCL, the nation’s second-biggest oil refining and gas advertising and marketing firm, is “recalibrating its strategies to leverage emerging opportunities while mitigating risks,” its chairman and managing director Arun Kumar Singh mentioned within the agency’s newest annual report.
As international locations internationally go for cleaner, carbon-free gas, oil firms are taking a look at companies to de-risk their mainstay hydrocarbon operations. Gasoline is being seen as a transition gas as electrical mobility and hydrogen decide tempo.
“The company has firmed up plans to diversify and expand in adjacent and alternative businesses to create additional revenue streams and provide a hedge against any possible future decline in liquid fossil-fuel business,” he mentioned.
BPCL, which owns 20,217 out of 83,685 petrol pumps within the nation, is taking a look at not simply promoting petrol and diesel on the bunks but additionally offering EV charging in addition to fuels of the longer term like hydrogen.
“Mindful of the need to reinvent ourselves with the changing times, we are committed to and progressing towards transforming our fuel stations into energy stations, where all forms of energy solutions for mobility, like petrol, diesel, natural gas, EV solutions, flexi fuels and, eventually, hydrogen, would be available,” he mentioned.
BPCL owns 14 per cent of India’s oil refining capability of 251.2 million tonnes. It has refineries at Mumbai, Bina in Madhya Pradesh and Kochi in Kerala.
Six strategic areas, he mentioned, have been recognized as pillars of future development and sustainability.
These are petrochemicals, gasoline, renewables, new companies (client retailing), e-mobility and upstream, whereas the core companies of refining and advertising and marketing of petroleum merchandise proceed to function a strong basis, offering stability and constant money flows.
“The company has laid out a detailed roadmap under each of these strategic areas, and has planned a capex outlay of around Rs 1.4 lakh crore in the next five years,” he mentioned.
BPCL will arrange petchem tasks at its oil refineries at Bina and Kochi.
“The company has identified two new refinery-integrated petrochemical projects – the 1.2 million tonnes per annum ethylene cracker unit at Bina refinery and the 0.4 million tonnes polypropylene unit at Kochi refinery,” he mentioned. “Action has been initiated for these projects.”
To develop pure gasoline footprints, BPCL is aggressively bidding and securing metropolis gasoline retailing licenses. It, together with its joint ventures, now has licenses to retail CNG to vehicles and piped pure gasoline to households and industries in 50 geographical areas (GAs) protecting 105 districts.
Pure gasoline will complement the agency’s conventional petrol, diesel and cooking gasoline LPG enterprise.
To realize its net-zero carbon emission goal by 2040, BPCL has arrange a enterprise unit ‘renewable power’ that can search to arrange 1 gigawatt of renewable electrical energy technology capability by 2025 and 10 GW by 2040, he mentioned including the agency can be mixing greater than 10 per cent ethanol in petrol.
“Non-fuel offerings have been an important constituent of BPCL’s retailing portfolio and one of the major drivers of growth in fuel business through the rub-off effect,” he mentioned.
He additional mentioned, “The company has formed a business unit called ‘new businesses’ for expanding the consumer retailing business more vigorously and in newer ways, with an initial focus on small towns and rural areas.”
The corporate has dovetailed gas with non-fuel choices. It has on one hand enrolled rural womenfolk entrepreneurs known as ‘Urja Devis’ to succeed in out to the bottom denominator within the Indian market, and on the opposite opened 30 new ‘In & Out’ shops at petrol pumps.
“Our endeavour is to create 1,500 ‘In & Out’ stores and engage 15,000 Urja Devis in the coming year,” he mentioned.
Within the electrical mobility area, to handle vary anxiousness pertaining to electrical 4-wheelers, BPCL has provide you with a novel idea of making freeway quick charging corridors, and on a pilot foundation, adopted the 900-km Chennai-Trichy-Madurai-Chennai freeway (NH-45) to develop it as a freeway quick charging hall.
Going ahead, BPCL plans to develop on this area in tandem with market enlargement, he mentioned.
On the upstream entrance, Bharat PetroResources Restricted (BPRL), its wholly-owned upstream subsidiary, is pursuing oil and gasoline growth tasks from Brazil to Mozambique.
“Over the years, BPCL has been focusing on creating additional capacities and augmenting its infrastructure to reduce dependence on other oil companies to serve its markets,” he mentioned.



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