|This article needs additional citations for verification. (August 2011)|
|Traded as||BSE: 500547
|Industry||Oil and gas|
|Headquarters||Mumbai, Maharashtra, India|
(Chairman & MD)
|Products||Petroleum, natural gas, and other petrochemicals|
|Revenue||US$ 39.45 billion (2012)|
|US$ 777 million (2012)|
|US$ 900 million (2012)|
|Total assets||US$ 14.47 billion (2012)|
|Total equity||US$ 3.14 billion (2012)|
|Owner||Government of India|
Number of employees
|Slogan||energising lives, pure for sure|
Bharat Petroleum Corporation Limited (BPCL) is an Indian state-controlled oil and gas company headquartered in Mumbai, Maharashtra. The Corporation operates two large refineries of the country located at Mumbai and Kochi. BPCL has been ranked 242th in the Fortune Global 500 rankings of the world's biggest corporations for the year 2014.
In 1889 during vast industrial development, an important player in the South Asian market was the 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. 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.
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.
In 2003, 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. 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. As a result, the government would need a majority in both houses to push through any privatization.
Bharat Petroleum operates the following refineries:
- Mumbai Refinery : Located near Mumbai, Maharashtra. It has a capacity of 12 million metric tonnes per year.
- Kochi Refineries : Located near Kochi, Kerala. It has a capacity of 9.5 million metric tonnes per year.
- Bina Refinery : Located near Bina, Sagar district, Madhya Pradesh. It has a capacity of 6 million metric tonnes per year. This refinery is operated by Bharat Oman Refineries Limited, a joint venture between Bharat Petroleum and Oman Oil Company.
- Numaligarh Refinery : Located near Numaligarh, Golaghat district, Assam. It has a capacity of 3 million metric tonnes per year.
- "Bharat Petroleum Corporation Limited Financial Statements". Bharat Petroleum Corporation Limited.
- "Eight Indian companies in Fortune 500 list".
- SAMANWAYA RAUTRAY AND PHEROZE L. VINCENT (March 4, 2011). "Feather in cap for graft fighters". The Telegraph. Retrieved 2012-04-26.
- Ramakrishna, G. V. (2004). Two Score and Ten: My Experiences in Government. Academic Foundation. p. 301. ISBN 8171883397.
- Gopal Ganesh (2008). Privatisation And Labour Restructuring. Academic Foundation. p. 136. ISBN 8171886345.