BPCL OIL
Reduce Bharat Petroleum Corporation, target price Rs 275: HDFC Securities
Bharat Petroleum Corporation Ltd., incorporated in the year 1952, is a Large Cap company (having a market cap of Rs 133625.97 Crore) operating in Gas & Petroleum sector.
BPCL subsidiary gets NCLT nod to take over Videocon Oil
Bharat PetroResources secured the acquisition of Videocon Oil Ventures by matching offers and paying upfront, resulting in minimal creditor recovery. The resolution professional managed claims totaling Rs 30,640 crore from financial creditors.
NCLT approves BPCL subsidiaries acquisiton of VoVL
"The argument raised...that ROFR acts against there being a level playing field is equally fallacious. Being fully aware of the ROFR availbale to Bharat Petro and its implications PRIO submitted an offer for a commercial value that it believed would dissuade Bharat Petro from exercising its ROFR....There is no question on Bharat Petro's ROFR having an impact on the playing field between parties," the court said.
BPCL sees nearly flat annual crude processing, executive says
Bharat Petroleum Corp (BPCL) anticipates no major changes in its annual crude processing for the current fiscal year despite a planned maintenance shutdown. BPCL will temporarily close a 120,000 bpd crude unit at its 310,000 bpd Kochi refinery for a month starting mid-September, stated Sanjay Khanna, BPCL’s head of refineries. Last fiscal year, BPCL processed nearly 800,000 bpd across its three refineries. BPCL is also expanding its Bina refinery to 220,000 bpd by mid-2027 and constructing a petrochemical plant to be operational by mid-2028.
BPCL bonus issue: Last day to buy shares to qualify before record date
BPCL had announced June 22 as the record date for its 1:1 bonus share issuance. Friday is the last day to buy shares to qualify for receiving the company's bonus shares. The bonus shares are expected to be credited to shareholders' accounts by July 8, as per a previous filing with the stock exchanges.
7 PSU stocks with highest dividend yields in the last 12 months
The dividend yield is the annual dividend payment to shareholders expressed as a percentage of the stock's current price. According to an Axis Securities report, seven PSU stocks paid a dividend yield of 4-5% in the last 12 months. Here is the list:
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BPCL may invest Rs 1,400 crore in green aviation fuel units
State-run Bharat Petroleum Corp (BPCL) is speculated to set up sustainable aviation fuel (SAF) units at its three refineries. This plan will help support the government's 1% blending target. For the said project, the company will invest up to Rs 1,400 crore in setting up these facilities.SAF is produced from various sources such as agricultural waste, fats, used cooking oil, or non-food crops.
Govt headhunter finds no one suitable for HPCL top job
The Public Enterprises Selection Board (PESB) has rejected all candidates it interviewed for the top job at Hindustan Petroleum Corp Ltd (HPCL), marking the third time in three years that the board has rejected all applicants for CEO roles at state oil firms. The board advised the ministry of petroleum and natural gas to choose an appropriate course of selection, including the search-cum-selection committee (SCSC) or as deemed appropriate with the approval of the competent authority.
BPCL adds fuel to capex fire, hires I-bank for Rs 31,000 crore loan
Bharat Petroleum Corp Ltd has mandated SBI Capital Markets to arrange a Rs 31,000 crore loan for the planned capital expenditure at its Bina refinery complex in Madhya Pradesh.
Boosting oil & gas production, green H2 promotion on top of agenda
Oil minister Hardeep Puri emphasizes boosting domestic oil and gas production, promoting green hydrogen, and increasing ethanol use. State-run oil companies like BPCL will not be divested.
India eyes oil deals with nations including Russia, minister says
Indian Oil Minister Hardeep Singh Puri announced Bharat Petroleum Corp's plan to build a new refinery. The nation aims to sign more oil import deals with countries, including Russia, at discounted rates. Prime Minister Narendra Modi seeks to provide energy at affordable rates to cushion customers from volatile oil markets.
IGL is the only preferred play in CGD pack: Harshvardhan Dole
I think there is possibility of earnings upgrade across the sector which includes upstream companies, downstream companies, and to an extent some of the gas entities. So, we are quite positive on the whole sector to begin with.
New govt not in favour to sell stake in OMCs, says Oil Minister Puri
India's oil minister, Hardeep Singh Puri, has announced plans to bring petrol, diesel, and natural gas under the Goods and Services Tax (GST) as part of the new cabinet. Puri emphasized that the government is not in favor of stake sales in state-run oil firms, following the scrapping of the Bharat Petroleum Corporation Ltd (BPCL) divestment process in 2022. The Indian firms are also in talks for a term oil deal with Russia.
BPCL plans to set up new refinery for Rs 50k cr
The state-owned oil marketing company will invest around Rs 50,000 crore in the project for which it is currently evaluating locations in three states - Andhra Pradesh, Uttar Pradesh, and Gujarat, two industry officials aware of the development told ET.
Government seeks candidates for new chief at Indian Oil
The petroleum ministry recommended a tenure extension for SM Vaidya, but the prime minister's office rejected it. Speculation arises about Vaidya's future as his term nears an end.
Stock Radar: 70% rally in 1 year! This oil & gas stock making higher highs on monthly charts; what should investors do?
Tracking the momentum, BPCL shares hit a record high of Rs 687 on February 16, 2024, but it failed to hold the momentum. The oil & gas stock witnessed a price-wise correction but is showing signs of bottoming out.
IOC, BPCL, HPCL post Rs 81,000 cr record profit in FY24
The retailers have resisted calls to revert to daily price revision and pass on softening in rates to consumers on grounds that prices continue to be extremely volatile - rising on one day and falling on the other - and that they needed to recoup losses incurred in the year when they kept rates lower than cost.
IOC, BPCL, HPCL post Rs 81,000 cr record profit in FY24
The retailers have resisted calls to revert to daily price revision and pass on softening in rates to consumers on grounds that prices continue to be extremely volatile - rising on one day and falling on the other - and that they needed to recoup losses incurred in the year when they kept rates lower than cost.
Oil & gas PSUs cut 15,700 jobs in 6 years even as revenue doubles
Over the span of six years, state-operated oil and gas enterprises reduced their workforce by 15,700 positions, constituting 14% of their total employees, despite a near doubling of their revenues. This downsizing trend particularly affected non-managerial roles.
OMC stocks jump over 8% after crude oil plunges to two-month low. HPCL top gainer
Crude oil prices hitting a two-month low this week fuelled strong movement in stocks of domestic oil marketing companies (OMCs) which jumped over 8% on Thursday.
Oil PSUs' output from overseas fields up a tad
The share of India's state companies in oil and gas production from overseas fields increased to 19.9 million metric tonnes of oil equivalent (MMTOE) in 2023-24 from 19.5 MMTOE in the previous year. Production at Russia's Skahalin-1 project normalised during the financial year, after being badly affected in 2022 following the launch of the Russia-Ukraine war.
Hindustan Petroleum to set up a global oil trading desk
Hindustan Petroleum Corp. Ltd (HPCL) plans to establish an international oil trading desk as part of its Visakh Refinery Modernisation Project. The move aims to modernize the refinery, increase refining capacity, and improve distillate yields. A trading desk helps companies procure crude oil from the international market on a real-time basis, helping cut import prices.
Shares of oil marketing companies look attractive: Motilal Oswal
“We expect marketing margins to normalise at higher levels from 2QFY25 onwards as the impact of these events subsides,” said Motilal Oswal’s analysts Abhishek Nigam and Aman Chowdhary in a client note.
Top stocks to buy: Favourable industry trends to support oil and gas stocks
Upstream oil players and gas firms can cushion against rising volatility fuelled by stretched valuations.
Delhi High Court upholds Reliance's inclusion in BPCL-HPCL pipeline case
The Delhi High Court upheld the Appellate Tribunal for Electricity's order allowing Reliance Industries to be made a party in a case regarding the designation of a pipeline by BPCL and HPCL as a common carrier for petroleum transportation. The court dismissed BPCL's appeal, supporting the tribunal's decision. The issue arose when PSU oil companies questioned whether their pipeline, exclusively for ATF transportation, should be a common carrier. RIL argued that since it initiated the process, it has a stake in the matter. The tribunal had allowed RIL to join the proceedings, a decision opposed by the PSU oil firms.
Kotak Equities retains sell rating on HPCL, IOC & BPCL, estimates up to 33% slide
Kotak Institutional Equities expressed concerns over OMCs' capex plans due to limited pricing freedom. Government's petrol and diesel price cut, along with rising crude oil prices, may impact energy stocks like HPCL, IOC, and BPCL.
ONGC energises govt kitty with ₹7,224 crore dividend
ONGC's dividend contribution to the state was almost double the ₹3,636 crore dividend by Indian Oil Corporation (IOC), nearly three times Bharat Petroleum Corporation's ₹2,413 crore, close to four times GAIL's ₹1,863 crore and about ten times Oil India's ₹737 crore.These are interim dividends and a final instalment usually comes after the companies declare annual earnings.
Haldia Petrochemicals seeks local Indian naphtha supplies amid Red Sea disruption: CEO
The company, which owns a naphtha cracker producing 700,000 metric tons per year in the eastern state of West Bengal, sources 50% of its feedstock from the Middle East and relies on local refiners like Indian Oil, HPCL and BPCL for the rest of its feedstock needs.
BPCL: Bharat Petroleum signs 4-month US oil purchase deal with BP, sources say
Bharat Petroleum Corp has made a significant agreement with BP to purchase 1 million barrels per month of U.S. West Texas Intermediate crude for a four-month period, according to trade sources. The deal involves the refiner commencing the receipt of the oil starting from June.
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