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{{short description|Indian public sector oil and gas company}}
{{Use Indian English|date=February 2016}}{{Use dmy dates|date=February 2016}}
{{Infobox company
| name = Bharat Petroleum Corporation Limited
| logo = Bharat Petroleum Logo.svg
| logo_size = 200px
| type = [[Public limited company|Public]]
| traded_as = {{ubl|{{BSE|500547}}|{{NSE|BPCL}}|[[NIFTY 50|NSE NIFTY 50 Constituent]]}}
| ISIN = INE029A01011
| industry = [[Energy industry|Energy]]: [[Oil and gas industry|Oil and gas]]
| location = [[Mumbai]], [[Maharashtra]], [[India]]
| key_people = K Padmakar <br /> {{small|(Chairman & [[Managing Director|MD]])}} <ref>{{Cite web|title=Bharat Petroleum Website Board of Directors|url=https://www.bharatpetroleum.com/about-bpcl/board-of-directors.aspx}}</ref>
| products = {{plainlist|
*[[Petroleum]]
*[[Natural gas]]
*[[LNG]]
*[[Lubricant]]s
*[[Petrochemical]]s}}
| parent = [[Ministry of Petroleum and Natural Gas]], [[Government of India]]
| subsid = *[[Bharat Oman Refinery Limited]]
*Bharat Petroresources Limited
*Bharat Gas Resources Limited
*Bharat Renewable Energy Limited
| revenue = {{Decrease}} {{INRConvert|232415|c}}<ref name=pnl>{{Cite web|title=Bharat Petroleum Corporation Consolidated Profit & Loss account, Bharat Petroleum Corporation Financial Statement & Accounts|url=https://www.moneycontrol.com/financials/bharatpetroleumcorporation/consolidated-profit-lossVI/bpc|access-date=2020-08-19|website=www.moneycontrol.com|language=en}}</ref>
| revenue_year = 2021
| operating_income = {{Increase}} {{INRConvert|24480|c}}<ref name=pnl/>
| income_year = 2021
| net_income = {{Increase}} {{INRConvert|17645|c}}<ref name=pnl/>
| net_income_year = 2021
| assets = {{Increase}} {{INRConvert|160992|c}}<ref name=bs>{{Cite web|title=Bharat Petroleum Corporation Consolidated Balance Sheet, Bharat Petroleum Corporation Financial Statement & Accounts|url=https://www.moneycontrol.com/financials/bharatpetroleumcorporation/consolidated-balance-sheetVI/bpc|access-date=2020-08-19|website=www.moneycontrol.com|language=en}}</ref>
| assets_year = 2021
| equity = {{Increase}} {{INRConvert|51462|c}}<ref name=bs/>
| equity_year = 2021
| owner = [[Government of India]] (54.93%)
| num_employees = 81,233 (Q3 2020)<ref>{{cite web |url=https://fortune.com/company/bharat-petroleum/global500/ |title=BHARAT PETROLEUM COMPANY PROFILE GLOBAL 500 # 309|publisher=Fortune |date= 8 October 2020 |access-date=13 March 2021 }}</ref>
| homepage = {{URL|http://www.bharatpetroleum.com/}}
}}

'''Bharat Petroleum Corporation Limited''' ('''BPCL''') is an Indian [[Government of India|government-owned]] oil and gas corporation. It is under the [[ownership]] of [[Ministry of Petroleum and Natural Gas]], [[Government of India]], headquartered in [[Mumbai, Maharashtra|Mumbai]], Maharashtra. It operates two large refineries in [[Kochi]] and [[Mumbai]].<ref>{{cite web |title=About BPCL - our journey |url=https://www.bharatpetroleum.com/about-bpcl/our-journey.aspx |website=BPCL Official website |publisher=BPCL |access-date=11 October 2018 |archive-url=https://web.archive.org/web/20181011133503/https://www.bharatpetroleum.com/about-bpcl/our-journey.aspx |archive-date=11 October 2018 |url-status=live }}</ref> India's second-largest downstream [[Oil companies|oil company]], it was ranked 309th on the 2020 ''[[Fortune Global 500|Fortune]]'' list of the world's biggest corporations,<ref>{{Cite web|title=Global 500|url=https://fortune.com/global500/2020/|access-date=2021-05-20|website=Fortune|language=en}}</ref> and 792nd on [[Forbes|Forbes's]] 2021 "Global 2000" list.<ref>{{Cite web|title=The Global 2000 2021|url=https://www.forbes.com/lists/global2000/|access-date=2021-05-20|website=Forbes|language=en}}</ref>

== History ==
===1891 to 1976===
The company today known as BPCL started off as Rangoon Oil and Exploration company set up to explore the new discoveries off Assam and Burma during the [[British Raj|British colonial rule of India]]. In 1889 during vast industrial development, an important player in the South Asian market was the [[Burmah Oil|Burmah Oil Company]]. Though incorporated in Scotland in 1886, the company grew out of the enterprises of the Chef Rohit Oil Company, which had been formed in 1871 to refine crude oil produced from primitive hand dug wells in Upper Burma.

In 1928, [[Asiatic Petroleum Company]] (India) started cooperation with Burma oil company. Asiatic Petroleum was a joint venture of Royal Dutch, Shell and Rothschilds formed to address the monopoly of [[John D. Rockefeller|John D Rockefeller's]] [[Standard Oil]], which also operated in India as [[Esso]]. This alliance led to the formation of Burmah-Shell Oil Storage and Distributing Company of India Limited. Burmah Shell began its operations with import and marketing of Kerosene.<ref>{{cite web |title=The history and journey of BPCL |url=https://www.bharatpetroleum.com/about-bpcl/our-journey.aspx |publisher=BPCL |access-date=11 October 2018 |archive-url=https://web.archive.org/web/20181011133503/https://www.bharatpetroleum.com/about-bpcl/our-journey.aspx |archive-date=11 October 2018 |url-status=live }}</ref>

In the mid 1950s, the company began to sell [[Liquefied petroleum gas|LPG cylinders]] to homes in India and further expanded its delivery network. It also marketed [[kerosene]], [[Diesel oil|diesel]] and petrol in cans in order to reach remote parts of India. In 1951, the Burmah shell began to build a [[refinery]] in [[Trombay]] (Mahul, Maharashtra) under an agreement with the Government of India.

===Nationalisation===
[[File:BPCL petrol filling station.JPG|thumb|left|BPCL petrol filling station near Nakirekal, Telangana, India|246x246px]]
In 1976, the company was nationalized under the Act on the Nationalisation of Foreign Oil companies ESSO (1974), Burma Shell (1976) and Caltex (1977).<ref name="tribune">{{cite news |title=SC stays disinvestment in HPCL, BPCL |url=https://www.tribuneindia.com/2003/20030917/main1.htm |access-date=11 October 2018 |work=The Tribune |date=17 September 2003 |archive-url=https://web.archive.org/web/20081202193119/http://www.tribuneindia.com/2003/20030917/main1.htm |archive-date=2 December 2008 |url-status=live }}</ref> On 24 January 1976, the Burmah Shell was taken over by the Government of India to form Bharat Refineries Limited. On 1 August 1977, it was renamed Bharat Petroleum Corporation Limited. It was also the first refinery to process newly found indigenous crude [[Bombay High]].
[[File:Bpcl basaveshwaranagar.png|thumb|right|BPCL petrol filling station at Basaveshwaranagar, Bangalore, Karnataka, India]]
In 2003, the government attempted to privatize the company. However, following a petition by the [[Centre for Public Interest Litigation]], the Supreme Court restrained the Central government from privatizing [[Hindustan Petroleum]] and Bharat Petroleum without the approval of Parliament.<ref name=Rautray20110304>{{cite web
|url=http://www.telegraphindia.com/1110304/jsp/nation/story_13665807.jsp
|work=The Telegraph
|title=Feather in cap for graft fighters
|author=SAMANWAYA RAUTRAY AND PHEROZE L. VINCENT
|date=4 March 2011
|access-date=2012-04-26
|archive-url=https://web.archive.org/web/20110509052608/http://www.telegraphindia.com/1110304/jsp/nation/story_13665807.jsp
|archive-date=9 May 2011
|url-status=live
}}</ref>
As counsel for the CPIL, [[Rajinder Sachar]] and [[Prashant Bhushan]] said that the only way to disinvest in the companies would be to repeal or amend the Acts by which they were nationalized in the 1970s.<ref>{{cite book |url=https://books.google.com/books?id=d4KUbiQ-9KoC&pg=PA301 |page=301
|title=Two Score and Ten: My Experiences in Government
|first=G. V. |last=Ramakrishna
|publisher=Academic Foundation |year=2004 |isbn=8171883397}}</ref>
As a result, the government would need a majority in both houses to push through any privatization.<ref>{{cite book
|url=https://books.google.com/books?id=ZBuUNzIgJjAC&pg=PA136 |page=136
|title=Privatisation And Labour Restructuring
|author=Gopal Ganesh
|publisher=Academic Foundation |year=2008 |isbn=978-8171886340}}</ref>

Parliament enacted the [[Repealing and Amending Act, 2016]] in May 2016 which repealed the legislation that had nationalized the company.<ref>{{cite news|title= BPCL nationalisation Act repealed in 2016; privatisation way clear|url= https://www.freepressjournal.in/business/bpcl-nationalisation-act-repealed-in-2016-privatisation-way-clear|access-date= 8 October 2019|archive-url= https://web.archive.org/web/20191008080730/https://www.freepressjournal.in/business/bpcl-nationalisation-act-repealed-in-2016-privatisation-way-clear|archive-date= 8 October 2019|url-status= live}}</ref> In 2017, Bharat Petroleum Corporation Limited (BPCL) received [[Maharatna]] status, putting it in the category of government-owned entities in India with the largest market capitalization and consistently high profits.<ref name=E1>{{cite news | url=https://economictimes.indiatimes.com/markets/stocks/news/bpcl-gets-maharatna-status-shares-rise-over-2/articleshow/60473782.cms | title=BPCL gets Maharatna status; shares rise over 4% | date=12 September 2017 | newspaper=The Economic Times | access-date=28 December 2018 | archive-url=https://web.archive.org/web/20190327095919/https://economictimes.indiatimes.com/markets/stocks/news/bpcl-gets-maharatna-status-shares-rise-over-2/articleshow/60473782.cms | archive-date=27 March 2019 | url-status=live }}</ref> status on 12 September 2017.

== Operations ==
Bharat Petroleum operates the following refineries:

* [[Mumbai Refinery (BPCL)|Mumbai Refinery]] : Located near [[Mumbai]], [[Maharashtra]]. It has a capacity of 13 million metric tonnes per annum.<ref>{{Cite web |url=http://www.bharatpetroleum.in/EnergisingEnvironment/MumbaiRefinery.aspx?id=3 |title=Archived copy |access-date=8 October 2012 |archive-url=https://web.archive.org/web/20120919185652/http://bharatpetroleum.in/EnergisingEnvironment/MumbaiRefinery.aspx?id=3 |archive-date=19 September 2012 |url-status=live }}</ref>
* [[Kochi Refinery]] : Located near [[Kochi]], [[Kerala]]. It has a capacity of 15.5  million metric tonnes per annum.<ref>http://www.thehindubusinessline.com/news/national/integrated-expansion-project-boosts-bpclkochi-refinery/article9677392.ece</ref>
* [[Bina Refinery]] : Located near [[Bina Etawa|Bina]], [[Sagar district]], [[Madhya Pradesh]]. It has a capacity of 7.8  million metric tonnes per year. This refinery started as [[Bharat Oman Refineries Limited|Bharat Oman Refineries Limited (BORL)]], a joint venture between Bharat Petroleum and [[Oman Oil Company|OQ (formerly known as Oman Oil Company)]]. Incorporated in 1994, BORL also has single point mooring (SPM) system, crude oil terminal (COT) and a 937km-long cross-country crude oil pipeline from Vadinar, Gujarat to Bina, Madhya Pradesh. As of April 2021, BORL is a subsidiary of BPCL.
* [[Numaligarh Refinery]] : Located near [[Numaligarh]], [[Golaghat district]], [[Assam]]. It has a capacity of 3  million metric tonnes per year.(Sold to consortium led by [[Oil India|Oil India Ltd.]])
The company business is divided in seven SBUs( Strategic Business Units), like Retail, Lubricants, Aviation, Refinery, Gas, I&C and LPG.

They have popular Loyalty Program like Petrocard, Smartfleet.

{{As of|2018}}, BPCL was also setting up a [[Second-generation biofuels]] refinery at Baulsingha village in [[Bargarh district]], Odisha of 100 kilo litre per day (KLPD) capacity.<ref>{{cite web | url=https://economictimes.indiatimes.com/industry/energy/oil-gas/bpcl-gets-green-nod-for-rs-747-cr-ethanol-project-in-odisha/articleshow/65374612.cms?from=mdr | title=BPCL gets green nod for Rs 747 cr ethanol project in Odisha | publisher=Economic Times | date=12 August 2018 | access-date=24 November 2020}}</ref> The plant would be using 2 Lakh tonnes of rice straw to generate fuel.<ref>{{cite web | url=https://timesofindia.indiatimes.com/city/bhubaneswar/bpcl-to-set-up-countrys-first-biofuel-plant-at-bargarh-district-in-odisha/articleshow/66109328.cms | title=BPCL to set up country's first biofuel plant at Bargarh district in Odisha | publisher=Times of India | date=7 October 2018 | access-date=24 November 2020 | author=Singha, Minati}}</ref>

== Subsidiaries ==
[[Indraprastha Gas|'''Indraprastha Gas Limited (IGL)''']], a [[joint venture]] between [[Gas Authority of India Limited]] (GAIL), Bharat Petroleum Corporation Limited (BPCL) and the [[Government of Delhi]] to operate the Delhi City Gas Distribution Project.

'''[[Petronet LNG]]''', a joint venture company promoted by the [[Gas Authority of India Limited]] (GAIL), [[Oil and Natural Gas Corporation]] Limited (ONGC), [[Indian Oil Corporation]] Limited (IOC) and Bharat Petroleum Corporation Limited (BPCL) to import LNG and set up LNG terminals in the country.

'''Bharat Renewable Energy Limited''', a joint venture company promoted by BPCL with Nandan Cleantech Limited (Nandan Biomatrix Limited), Hyderabad and Shapoorji Pallonji Group, through their affiliate, S.P. Agri Management Services Pvt.Ltd. specializes in offering Bio diesel plants, ethanol, bio-diesel plants, [[Millettia pinnata|Karanj (Millettia pinnata)]], [[Jatropha]] and [[Millettia pinnata|Pongamia (Pongamia Pinnata)]] plantation services, renewable generation services etc. In 2013 Shapoorji Pallonji Group exited the joint venture.<ref>{{Cite news|last=Pathak|first=Kalpana|date=2013-09-23|title=Shapoorji Pallonji to exit renewable energy venture floated with BPCL|work=Business Standard India|url=https://www.business-standard.com/article/companies/shapoorji-pallonji-to-exit-renewable-energy-venture-floated-with-bpcl-113092300171_1.html|access-date=2021-05-03}}</ref>

==Ownership==
As of September 2018, 54% of the shares of BPCL were owned by the [[Government of India]] (through the [[President of India]]), with the rest owned by Foreign Portfolio Investors (17%), BPCL trust for investing in shares (9%), [[Mutual funds]] and [[Unit Trust of India|UTI]] (7.5%), [[Insurance companies]] (6%) and the balance held by individual share holders.<ref>{{cite web |title=Shareholding pattern - September 2018 |url=https://www.bharatpetroleum.com/bharat-petroleum-for/investors/shareholders-information/shareholding-pattern.aspx |website=BPCL Official website |publisher=BPCL |access-date=11 October 2018 |archive-url=https://web.archive.org/web/20181011133448/https://www.bharatpetroleum.com/bharat-petroleum-for/investors/shareholders-information/shareholding-pattern.aspx |archive-date=11 October 2018 |url-status=live }}</ref>

== Disinvestment ==
On 21 November 2019, the [[Government of India]] approved the privatization of Bharat Petroleum Corporation Limited (BPCL).<ref>{{Cite web|title=Archived copy|url=https://www.business-standard.com/article/economy-policy/privatisation-push-cabinet-approves-strategic-sale-of-bpcl-4-other-psus-119112100076_1.html|url-status=live|archive-url=https://web.archive.org/web/20191123074254/https://www.business-standard.com/article/economy-policy/privatisation-push-cabinet-approves-strategic-sale-of-bpcl-4-other-psus-119112100076_1.html|archive-date=23 November 2019|access-date=23 November 2019}}</ref> The government invited bids for the sale of its 52.98% stake in the company on 7 March 2020.<ref>{{cite web|title=Govt invites bids for BPCL, to sell full 52.98% stake in company|url=https://www.moneycontrol.com/news/business/govt-invites-bids-for-bpcl-to-sell-full-52-98-stake-in-company-5012761.html|access-date=7 March 2020|website=Moneycontrol}}</ref> The Government decided to consolidate the businesses of BPCL before privatization starting with the Numaligarh Refinery Ltd. (NRL). The Government decided to keep Numaligarh Refinery Ltd. (NRL) in the public sector, honouring the Assam Peace Accord. On Mar 2021, Bharat Petroleum Corporation Ltd (BPCL) sold its entire 61.5% stake in Numaligarh Refinery in Assam to a consortium of [[Oil India|Oil India Ltd.]] and [[Engineers India|Engineers India Ltd.]] and [[Government of Assam]] for ₹9,876 crore.<ref>{{Cite web|title=BPCL offloads entire 61.5% stake in Numaligarh Refinery for Rs 9,876 crore|url=https://www.businesstoday.in/sectors/energy/bpcl-offloads-entire-615-stake-in-numaligarh-refinery-for-rs-9876-crore/story/435034.html|access-date=2021-05-03|website=www.businesstoday.in}}</ref> BPCL also acquired a 36.62% stake in Bharat Oman Refineries (BORL) or Bina refinery situated at Bina in Madhya Pradesh, India from [[OQ (company)|OQ (formerly known as Oman Oil Company)]], for ₹2,400 crore. BPCL has been holding 63.4 per cent and OQ 36.6 per cent equity in the company. The Government of Madhya Pradesh has a minor stake in the company through compulsorily convertible warrants. With the acquisition of OQ’s entire stake in BORL, BPCL will establish control over BORL.<ref>{{Cite web|title=India's Bharat Petroleum buys OQ's entire in Bina refinery|url=https://www.hydrocarbons-technology.com/news/bharat-petroleum-oqs-bina-refinery/|access-date=2021-05-03|website=www.hydrocarbons-technology.com}}</ref><ref>{{Cite web|title=BPCL Acquires Oman's 36.6% Stake In Bina Refinery|url=https://www.moneycontrol.com/news/business/companies/bpcl-acquires-omans-36-6-stake-in-bina-refinery-6715321.html|access-date=2021-05-03|website=Moneycontrol}}</ref>

==See also==

* [[List of companies of India]]
* [[List of largest companies by revenue]]
* [[List of corporations by market capitalization]]
* [[Make in India]]
* [[Forbes Global 2000]]
* [[Fortune India 500]]
* [[Rajiv Gandhi Institute of Petroleum Technology]]<ref>{{Cite web |url=http://www.topnews.in/sonia-lay-foundation-rajiv-gandhi-petroleum-institute-rae-bareli-221339 |title=Archived copy |access-date=20 October 2016 |archive-url=https://web.archive.org/web/20180509151043/https://www.topnews.in/sonia-lay-foundation-rajiv-gandhi-petroleum-institute-rae-bareli-221339 |archive-date=9 May 2018 |url-status=live }}</ref>

== References ==
{{reflist}}

== External links ==
* {{Official website|http://www.bharatpetroleum.com/}}
* [https://web.archive.org/web/20171106030101/https://www.onlinegasbooking.net/bharat-gas-booking/ Bharat gas Booking]
* [https://web.archive.org/web/20170929044302/https://www.onlinegasbooking.net/bharat-gas/ Bharat Gas]
* Business data for Bharat Petroleum: [https://web.archive.org/web/20170929044126/https://in.reuters.com/finance/stocks/overview/BPCL.NS Reuters] [https://finance.google.com/finance?q=NSE:BPCL Google Finance] [https://www.bloombergquint.com/stock/159344/bharat-petroleum-corporation-ltd BloombergQuint]

{{Nifty 200 companies}}
{{Energy Ministries and Departments of India}}
{{Energy companies and organizations in India}}
{{Public Sector Undertakings in India}}

{{authority control}}

[[Category:Oil and gas companies of India]]
[[Category:Oil pipeline companies]]
[[Category:Government-owned companies of India]]
[[Category:Companies based in Mumbai]]
[[Category:Energy companies established in 1976]]
[[Category:Non-renewable resource companies established in 1976]]
[[Category:Indian companies established in 1976]]
[[Category:Companies nationalised by the Government of India]]
[[Category:NIFTY 50]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Indian brands]]
[[Category:National oil and gas companies]]
[[Category:1976 establishments in Maharashtra]]

Bharat Petroleum - Revision history

CleanupBot II at 19:26, 13 August 2023