Bharat Petroleum

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  6. Oil and gas companies of India
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Bharat Petroleum Corporation Limited
Type Public
Traded as BSE: 500547
NSE: BPCL
Industry Oil and gas
Founded 1976
Headquarters Ballard Pier, Mumbai, Maharashtra, India
Key people R. K. Singh
(Chairman & MD)
Products Petroleum, natural gas, and other petrochemicals
Revenue Increase US$ 34.10 billion (2011)[1]
Net income Increase US$ 358 million (2011)[1]
Total assets Increase US$ 15.00 billion (2011)[1]
Total equity Increase US$ 3.44 billion (2011)[1]
Owner(s) Government of India
Employees 14,654 (2011)[1]
Website www.bharatpetroleum.com

Bharat Petroleum Corporation Limited (BPCL) (BSE: 500547, NSE: BPCL) is an Indian state-controlled oil and gas company headquartered in Mumbai, India. BPCL ranked #272 in Fortune Global 500 list in 2011.[1]

History

In 1860s 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 Rangoon 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.[2] 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.[3] As a result, the government would need a majority in both houses to push through any privatization.[4]

Operations

Bharat Petroleum owns refineries at Mumbai, Maharashtra and Kochi, Kerala (Kochi Refineries) with a capacity of 12 and 9.5  million metric tonnes per year

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 "2010 Bharat Petroleum Form 10-K". http://money.cnn.com/magazines/fortune/global500/2011/snapshots/6359.html. Retrieved October 7, 2011.
  2. ↑ SAMANWAYA RAUTRAY AND PHEROZE L. VINCENT (March 4 , 2011). "Feather in cap for graft fighters". The Telegraph. http://www.telegraphindia.com/1110304/jsp/nation/story_13665807.jsp. Retrieved 2012-04-26.
  3. ↑ Script error
  4. ↑ Script error

External links

India Central PSU companies of India


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