Millennium Post

BPCL records sales turnover of Rs 2,22,500 crore

Bharat Petroleum Corporation Ltd [BPCL] recorded a sales turnover of Rs 2,22,500.47 crores in 2011-12 with its net worth being 14,914 on 31 March, 2012, as compared to Rs 14,058 in the previous year. Profit before tax for the year is Rs 1,884 crores, as compared to Rs 2,394 crores 2010-11, said R K Singh, chairman and managing director, BPCL.

Singh said the wholly-owned subsidiary company – Bharat PetroResources Limited [BRPL] has successful finds in oil and gas finds in Mozambique, Brazil and India. The Mozambique natural gas discoveries – currently estimated at 30 to 60 trillion cubic feet of recoverable resources – is considered as one of the top ten discoveries in the world.

He said till date a total of 14 discoveries were announced in exploration blocks where BRPL has participating interests, while its global portfolio comprised 28 blocks of which 13 are located in India.  Besides having its presence in Australia, Brazil, East Timor, Indonesia, Mozambique and the United Kingdom, BRPL made its first discovery in a block in India – in the Cauvery basin in Tamil Nadu - where it has a participating interest of 40 % with ONGC as the consortium partner.

The company has also entered the Shale gas space in 2010 by acquiring interest in a Shale gas block in Australia.  BPCL’s board of directors have approved expansion of its Kochi  refining capacity from 9.5MMTPA to 15.5 MMTPA, involving Rs 14,225 crores expenditure and enabling it to produce auto fuels conforming to EURO IV/V specifications and upgradation of residue streams, he said.
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