Last Updated on October 17, 2023 by BFSLTeam BFSLTeam
Bharat Petroleum Corporation Ltd. (BPCL), with its impressive network exceeding 15,000 petrol stations, represents a vital part of our everyday lives, fuelling journeys, powering industries, and in many ways, keeping the nation moving forward. Exploring the wide-reaching world of BPCL reveals a steady dedication to its goals, a well-planned growth strategy, and a relentless drive that has always been focused on reaching new heights. In 2017, BPCL was honoured with the prestigious ‘Maharatna’ status by the Government of India. It’s a reflection of BPCL’s critical role in India’s development and its reliable presence in our lives.
In this blog, we’ll explore the rich history of BPCL, understand its impactful mergers, examine its strategic acquisitions, and get to know its wide range of products. Through this discussion, our goal is to present a clear, uncomplicated picture of BPCL’s impact, linking its commercial pursuits with a deeper commitment to facilitating India’s growth story.
Table of Content
About Bharat Petroleum Corporation Ltd.
| Parameter | Detail |
| Industry Type | Oil and Gas |
| Year Founded | 1976 |
| Headquarters | Mumbai, Maharashtra, India |
| Key People | Krishnakumar Gopalan (Chairman & MD) |
| Parent Company | Government of India |
| Market Cap | ₹738.57 billion |
| Total Number of Employees | 8796 |
| Market Share | 25.07% |
| Annual Production | 38.53 MMT (Refinery throughput) |
Overview of Bharat Petroleum Corporation Ltd.
Imagine a company that makes sure there’s fuel in your vehicles, gas in your homes, and energy for industries to keep working. That’s what Bharat Petroleum Corporation Ltd. (BPCL), one of India’s top energy companies, does. This Maharatna company has constantly delivered a stable supply of energy resources, contributing to the nation’s economic growth.
In 2022-23, BPCL took significant steps to enhance its operations and strengthen its position in the market by merging with two companies: Bharat Oman Refineries Limited (BORL) and Bharat Gas Resources Limited (BGRL). Such strategic moves have not just enriched its operational and financial potency but have also enabled the company to explore new possibilities, thereby ensuring more stable and enhanced service delivery to its consumers.
Let’s decode some of the critical statistics to understand the depth of BPCL’s operation:
- BPCL earned ₹5,33,467.55 Crore in the last year.
- It processed 38.53 MMT of crude oil, ensuring its products reached markets far and wide.
- The company made a net profit of ₹1,870.10 Crore.
- With a 25.07% market share, BPCL has a strong presence in the energy sector.
BPCL’s role in the nation’s economy extends beyond just numbers. As a Maharatna company, it holds a significant position in contributing to the national exchequer, thereby playing a vital role in the economic development of the country. It creates numerous job opportunities and has been actively involved in various community development programmes.
Looking ahead, BPCL is not merely content with its present accomplishments. With the strategic mergers now fuelling its journey forward, the company is set to venture into new horizons. One such promising initiative is the Ethylene Cracker Project at Bina, which signals BPCL’s commitment to innovation and sustainability. Moreover, with the global energy landscape quickly shifting towards greener alternatives, BPCL is set to make substantial investments in cleaner and more sustainable energy solutions.
Bharat Petroleum Corporation Ltd. History
1976: Foundation
In 1976, Bharat Petroleum Corporation Ltd. (BPCL) was founded, evolving from its original identity as Burmah Shell through a nationalisation process. This marked a notable beginning in managing India’s energy needs.
1977: A New Identity
In 1977, a significant rebranding occurred as the company was christened with its current name, Bharat Petroleum Corporation Ltd. (BPCL), cementing its identity in the nation’s industrial landscape.
1992: Moving Towards Privatisation
The year 1992 saw the government taking initial steps towards privatising BPCL, offering shares to the public and initiating a period of public involvement and investment in the company.
2003: Recognition as Navratna
BPCL was granted Navratna status in 2003, signalling its reliable performance and providing it with the autonomy to explore new business avenues, enhancing its business profile on a national level.
2006: Broadening Retail Presence
A deliberate expansion of its retail network was undertaken by BPCL in 2006, ensuring that its services and products were more accessible to diverse local markets across India.
2011: Exploring New Territories
BPCL ventured into oil and gas exploration in 2011, expanding its operations and influence into the upstream sector and demonstrating a capacity for adaptive business practices.
2017: Supporting Innovations
The initiation of the BPCL Start-Up Scheme in 2017 showcased the company’s dedication to fostering technological innovation, providing support to emerging start-ups, and aligning with the future-oriented business. Also, the company was conferred with the prestigious Maharatna status.
2020: Discussion on Privatisation
In 2020, BPCL’s proposed privatisation by the Indian government reinvigorated various debates and dialogues about the country’s energy sector, stability, and future trajectories, placing BPCL in a crucial narrative of India’s energy story.
2022: Merging and Amplifying Capacities
The year 2022 saw BPCL merging with Bharat Oman Refineries Limited (BORL) and Bharat Gas Resources Limited (BGRL), integrating and strengthening its refining and gas portfolios and showcasing its strategic adaptation to business needs and market dynamics.
Major Subsidiaries of Bharat Petroleum Corporation Ltd.
BHARAT OMAN REFINERIES LIMITED (BORL)
Bharat Oman Refineries Limited (BORL) stood tall as a powerful helper to BPCL, focusing on refining tasks. But a decision was made: BORL and BPCL would become one. So, from July 1, 2022, BORL blended into BPCL. Think of it like two rivers meeting – both full of ideas, people, and plans, flowing together to create something even mightier. This wasn’t just about saving money or making processes easier; it was about joining forces to navigate the complex world of the energy sector with more strength and wisdom.
BHARAT GAS RESOURCES LIMITED (BGRL)
Bharat Gas Resources Ltd. (BGRL) is another crucial companion in BPCL’s journey, particularly in the world of gas. An important decision was made for BGRL too: it would merge with BPCL, becoming one solid, unified company. On August 16, 2022, after approval from the Ministry of Corporate Affairs, BGRL and BPCL began their shared journey. This merging was like two puzzle pieces coming together, making the picture complete with their combined skills, knowledge, and resources.
BPCL-KIAL FUEL FARM PRIVATE LIMITED (BKFFPL)
BPCL-KIAL Fuel Farm Private Limited (BKFFPL), was formed in May 2015, with 74% of it belonging to BPCL and 26% to Kannur International Airport Limited. Their mission was clear: create and run a fuel farm at Kannur International Airport, ensuring that planes had the Aviation Turbine Fuel (ATF) they needed. The fuel farm took off in December 2018, right when Kannur International Airport did. It’s like a well-oiled machine, playing its part in keeping planes in the sky by providing the necessary fuel, showcasing BPCL’s commitment to not just make energy but to support the world of aviation too.
Products/Brands Under Bharat Petroleum Corporation Ltd.
1. Liquefied Petroleum Gas (LPG)
Bharat Petroleum Corporation Ltd. (BPCL) provides Liquefied Petroleum Gas (LPG), a crucial, clean energy source for many Indian homes and industries. It’s used widely for cooking, but also in different industrial processes. BPCL ensures it’s accessible to both urban and rural areas, aligning with its belief in offering innovative and user-friendly services, such as the introduction of e-Bharatgas and other customer-oriented solutions.
2. Motor Spirit (MS)
Also known as petrol, Motor Spirit keeps our vehicles moving, and therefore, is pivotal for transport and several economic activities in India. BPCL guarantees the supply of this vital fuel through numerous outlets, making sure it’s not just high quality but also available wherever and whenever it’s needed, demonstrating a blend of top-quality and customer-friendly service.
3. High-Speed Diesel (HSD)
High-Speed Diesel by BPCL is a vital fuel for various sectors like transport and agriculture, fuelling large vehicles and machinery. It ensures that sectors dependent on heavy machinery function smoothly, while also sticking to global emission standards, showcasing an alignment with ecological conservation.
4. Aviation Turbine Fuel (ATF)
BPCL’s Aviation Turbine Fuel is renowned for powering the aviation sector, ensuring airlines receive reliable and top-quality fuel. With a sturdy supply chain, BPCL makes certain that airports receive a steadfast supply, ensuring robust connectivity and contributing to the overall growth and stability of the aviation sector.
5. Naphtha
Naphtha, used in industries and as a fuel for several processes, holds a key spot in BPCL’s offerings. It assists in producing numerous products like plastics and synthetic fibres and supports the manufacturing of chemicals, displaying a versatile role in various manufacturing processes.
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Conclusion
Bharat Petroleum Corporation Ltd. (BPCL) stands tall as a company that helps move our great nation forward. With huge earnings and profits in the last year, it shows strong growth and success. BPCL is a key company in the energy sector and holds a significant 25.07% of the market share. It provides everything from cooking gas at homes to fuel for planes, touching different parts of daily lives and industries. By merging with Bharat Oman Refineries Limited and Bharat Gas Resources Limited, BPCL has smartly moved toward becoming a full-fledged energy company. The company has plans to continue its growth, aiming to meet the needs of the people.
