BPCL reported that its consolidated net profit edged higher by 17% to Rs 9,506 crore
With an objective to enhance the value chain of petroleum products, Bharat Petroleum Corporation Limited (BPCL) is replacing the old 30-inch crude pipeline with 20-inch insulated pipeline from South Tanker Berth Jetty to Kochi Refinery. The Public Sector Undertaking under the Ministry of Petroleum& Natural Gas said the new pipeline would help Kochi Refinery to transport high viscous petroleum products like vacuum residue (HSVR) and vacuum gas oil (VGO) from other refineries in the country and process these products into value-added products of diesel and petrol. Since most of the other Indian refineries don't have the bottom upgradation capabilities, this business model would help the country produce additional value-added products, the company said in a release here. The release said the Kochi Corporation had given the nod for laying pipeline in areas under its jurisdiction. As part of the agreement, Kochi Refinery had contributed Rs.Five crore for developmental activities in .
Through private placement of secured non-convertible debentures during FY17
Total income for the company was 21% higher at Rs 64,646 cr
The state-owned refiner sold the cargo, which has a sulphur content of 1.5%, to Vitol
Total income from operations rose 4% to Rs 54,866.89 cr from Rs 52,525.58 cr in the corresponding period last year
India is replacing China as the driver of global oil demand growth as its economy expands
The company also plans to start full operations for its expanded Kochi refinery project in the fourth quarter of the current financial year
The company's total expenses also fell 4% to Rs 53,528 cr in the June quarter, from Rs 55,553 cr in the year-ago quarter
Former's networks to help the latter's payments bank improve its reach
BPCL, HPCL and Indian Oil were up between 2%-5% on the BSE.
1.35 lakh shares of the company were traded at BSE and more than 13 lakh shares changed hands at NSE
6.30 lakh shares of company were traded at BSE and over 58 lakh shares changed hands at NSE during day
The stock has surged 7% to Rs 992 on the BSE in early morning trade
Lower crude oil prices, sharp fall in tax rate which came down from 32.7 per cent in March 2015 quarter to 27.1 per cent
The proposed project will ensure LPG supply to far-flung areas of eastern and north-eastern regions
The board has approved approved the proposal to acquire Petronet India Ltd's 26% equity in PCL at a total cost of Rs 78.60 crore.