Friday, August 19, 2022

Bina Refinery Will Merge With BPCL Will Work In Private

Refinery Update: Bharat Petroleum Corporation Limited (BPCL), the country’s second largest oil marketing company, which has raised its wings even abroad, has given big signs of becoming private by merging. There is a huge jump in the prices of crude oil abroad, which is not taking its name to stop. BPCL, which is going to be private, has announced the merger of its subsidiary refinery Bharat Oman Refineries Limited (BORL) located in Bina district of Madhya Pradesh with itself. This will give mutual benefit to both the companies. BPCL and its group companies have a significant presence in the upstream, refining and downstream value chains of the oil and gas industry, while BORL delivers product safety and logistics to northern and central India through a network of pipelines.

Also READ  Passenger Reservation System Of Railways Will Be Completely Changed See...

BORL’s annual capacity is 78 lakh tonnes
BORL is currently a fully owned subsidiary of BPCL. It operates a refinery at Bina in Madhya Pradesh with an annual capacity of 7.8 million tonnes. BPCL had bought the stake of Oman Oil in it. BPCL has refineries with a capacity of 12 million tonnes in Mumbai and 155 million tonnes in Kochi, Kerala. BPCL said that with this merger, it will get benefit in the purchase of crude oil for refineries. Also, production planning and product mix for refineries will help in optimum utilization of capacity.

both will benefit
BPCL’s CMD Arun Kumar Singh has informed that massive changes are taking place in the energy scenario. BPCL has prepared definite plans for its expansion and future development in the energy sector. With the merger of Bina Refinery, we will build our capabilities to compete more effectively and profitably in the rapidly changing energy market. BPCL will get the marketing network of BPCL to consume its products near Bina Refinery. Several renewable energy projects, 1.2 MMTPA Ethylene Cracker Unit and petrochemical infrastructure are envisaged for the large plot of land available near Bina Refinery, he added. Thereafter, the high cost projects will get a boost. Presently, the combined refining capacity of Bharat Petroleum’s refineries at Mumbai, Kochi and Bina is about 35.3 MMTPA.

Also READ  SBI Chairman Dinesh Kumar Khara Said Loan Growth Will Be Around 15...

signs of being private
BPCL’s marketing infrastructure includes a network of establishments, depots, retail outlets, aviation service stations and LPG distributors. The network includes over 20,000 retail outlets, over 6,100 LPG distributorships, 733 lube distributorships, 123 POL storage locations, 53 LPG bottling plants, 60 aviation service stations, 3 lube blending plants and 4 cross-country pipelines. On the other hand Bina Refinery is a multipurpose refinery which refines 47 types of crude. The government wants to privatize BPCL but at the moment it is not being talked about.

Also READ  LIC's Special Campaign Starts Chance To Start Lapse Policy Till October...

Read also:

FD Rate Revised: Punjab and Sind Bank changed the interest rates of savings account and FD, know the latest rates

FD Rates Hike: Big news for Canara Bank and IDFC First Bank customers! Account holders will get big benefits

Source link

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular