BPCL ties up 1 mn tonnes of LNG from Mozambique LNG project

State-run Bharat Petroleum Corporation (BPCL) has tied up a supply of 1 million tonnes (mt) of liquefied natural gas (LNG) from the upcoming $20-billion project in Mozambique, which is expected to commence operations by FY28. BPCL subsidiary Bharat PetroResources (BRPL) through its Netherlands-based step-down subsidiary BPRL Ventures Mozambique holds a 10 per cent participating interest

Indian refiners seeking to boost Saudi crude oil imports

Two Indian state refiners are seeking to boost imports of Saudi crude oil after the kingdom cut the official selling price of its key export grade for February to the lowest in 27 months, company sources said. Indian Oil Corp, the country’s top refiner, and Bharat Petroleum Corp, are looking at lifting an additional 1

India’s netzero emissions target of 2070 little too long-term

Union Minister Hardeep Singh Puri said achieving the net zero emissions target by 2070 is “little too long-term”, indicating that the country may achieve the milestone ahead of the deadline. Under the net zero target, India will completely switch to renewables by 2070. The minister said this addressing the 26th Energy Technology Meet. He is

Oil firms explore using stranded $600 mn to buy Russian oil

Indian Oil Corporation (IOC), a unit of Bharat Petroleum Corporation Ltd, Oil India Ltd and ONGC Videsh Ltd — haven’t been able to repatriate dividend income they accrue from their investments in Russian oil and gas fields. That money is lying in their bank accounts in Russia but could not be brought to India due

BPCL in pact with BARC to accelerate green hydrogen capabilities

BPCL and Bhabha Atomic Research Centre (BARC) have joined hands to accelerate India’s green hydrogen capabilities. In the presence of Shri. G. Krishnakumar C&MD BPCL, Shri. Shelly Abraham (Head-Renewable Energy) and Dr. S. Adhikari, Associate Director, BARC, signed an MoU to develop an ecosystem to manufacture electrolyser technology in India. The partnership, stemming from a

E20 petrol already available at 1,350 fuel outlets, on track for pan-India rollout by 2025

E20 petrol, or petrol with 20 per cent ethanol, is now available at 1,350 fuel retail outlets and will be available all over the country by 2025, Petroleum Minister Hardeep Singh Puri said at an industry event on Tuesday. The minister also announced that the Global Biofuels Alliance (GBA) — an initiative by India with

Oil refiners from India using CNY to buy Russian crude

In June, Indian Oil was the first state refiner to pay for Russian crude in yuan, while at least two of India's three private refiners have completed similar transactions.

BPCL to raise funds for green energy

Bharat Petroleum said it approved raising up to 180 billion rupees ($2.19 billion) through an issue of equity shares on a rights basis underscoring India’s push to achieve net zero-emissions goals. The details of the issue, including the price, right entitlement and timing will be intimated separately after the board approval. The Indian government is

India likely to achieve one million barrel refining capacity

Hindustan Petroleum Corporation (HPCL) is carrying out expansion plans at Bhatinda and Vizag as well as the greenfield refinery at Barmer, which are expected to be completed in FY24.

India mulls kicking off to seek equity in three big refineries

The Oil Ministry asked state-controlled Indian Oil Corp (IOC.NS) and Bharat Petroleum Corp Ltd (BPCL) (BPCL.NS) to launch rights issues, and asked Hindustan Petroleum Corp Ltd (HPCL) (HPCL.NS) to make a preferential share allotment to the government.