|Industry||Oil and Gas|
|Headquarters||Mumbai, Maharashtra, India|
|K Padmakar |
(Chairman & MD) 
|Revenue||₹456,788.23 crore (US$64 billion)  (2021)|
|₹57,612.90 crore (US$8.1 billion)  (2021)|
|₹12,560.36 crore (US$1.8 billion)  (2021)|
|Total assets||₹1,789,951.56 crore (US$250 billion)  (2021)|
|Total equity||₹1,176,544.33 crore (US$160 billion)  (2021)|
|Owner||Government of India (54.93%)|
Number of employees
|81233 (Q3 2020)|
|Parent||Ministry of Petroleum and Natural Gas , Government of India|
Bharat Petroleum Corporation Limited (BPCL) is a 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. It operates two large refineries in Kochi and Mumbai. India's second-largest downstream oil company, it was ranked 309th on the 2020 Fortune list of the world's biggest corporations, and 792nd on Forbes's 2021 "Global 2000" list.
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 colonial rule of India. 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. Asiatic Petroleum was a joint venture of Royal Dutch, Shell and Rothschilds formed to address the monopoly of 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.
In the mid 1950s, the company began to sell LPG cylinders to homes in India and further expanded its delivery network. It also marketed kerosene, 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.
In 1976, the company was nationalized under the Act on the Nationalisation of Foreign Oil companies ESSO (1974), Burma Shell (1976) and Caltex (1977). 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, 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. 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.
Parliament enacted the Repealing and Amending Act, 2016 in May 2016 which repealed the legislation that had nationalized the company. 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. status on 12 September 2017.
Bharat Petroleum operates the following refineries:
- Mumbai Refinery : Located near Mumbai, Maharashtra. It has a capacity of 13 million metric tonnes per annum.
- Kochi Refinery : Located near Kochi, Kerala. It has a capacity of 15.5 million metric tonnes per annum.
- Bina Refinery : Located near 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 (BORL), a joint venture between Bharat Petroleum and 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 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[update], 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. The plant would be using 2 Lakh tonnes of rice straw to generate fuel.
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, Karanj (Millettia pinnata), Jatropha and Pongamia (Pongamia Pinnata) plantation services, renewable generation services etc. In 2013 Shapoorji Pallonji Group exited the joint venture.
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 UTI (7.5%), Insurance companies (6%) and the balance held by individual share holders.
On 21 November 2019, the Government of India approved the privatization of Bharat Petroleum Corporation Limited (BPCL). The government invited bids for the sale of its 52.98% stake in the company on 7 March 2020. 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 Ltd. and Engineers India Ltd. and Government of Assam for ₹9,876 crore. BPCL also acquired a 36.62% stake in Bharat Oman Refineries (BORL) or Bina refinery situated at Bina in Madhya Pradesh, India from 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.
- 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
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