BPCL to invest Rs 264 crore in setting up retail outlets in eastern India

In order to increase its retail presence in Eastern India, disinvestment-bound Bharat Petroleum Corporation (BPCL), will add 400 more retail outlets in FY22 at an investment of Rs 264 crore. This will be above its existing 2,738 retail outlets in the eastern region. The state-owned oil marketing company (OMC) is slated to increase its market share in […]

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LPG consumption up by 7.3% in the past three months, despite price rise

Cooking gas LPG consumption rose by 7.3 per cent in the last three months despite a steep price rise, with usage among the PMUY (Prime Minister Ujjwala Yojna) beneficiaries jumping by nearly 20 per cent, state-owned oil marketing companies said. “LPG consumption has improved amongst PMUY customers,” Indian Oil Corporation (IOC) said in a statement. An identical […]

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PM dedicates BPCL’s petro-chem complex in Kerala to India

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Prime Minister Narendra Modi  dedicated to the nation a Rs 6,000 crore petrochemical complex of oil major Bharat Petroleum in Kerala and Ro-Ro vessels of Inland Waterways at Willingdon Islands, asserting these projects would energise India’s growth trajectory. On a brief visit to Kerala, the Prime Minister also inaugurated the Cochin Port Trust’s International Cruise Terminal and Cochin Shipyard’s […]

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India’s PSU disinvestment programme nowhere near target

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The Public Sector Units disinvestment target looks almost impossible to achieve. In February this year, Finance Minister N. Sitharaman had set a record disinvestment target of Rs 2.10 lakh crore for the fiscal beginning April but Rs 12,380 crore from minority stake sales in four public sector companies is all that has been garnered so […]

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India’s LPG consumers of BPCL to be moved to IOC and HPCL following disinvestment in the public sector

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India’s petroleum ministry is set to seek Cabinet nod for a process to transfer subsidised LPG customers from Bharat Petroleum (BPCL) to other state-run retailers Indian Oil and Hindustan Petroleum Corporation. The transfer process will be completed in 3-5 years. BPCL has invited the first bid from private players to sell the government’s 53% odd stake […]

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