Bharat PetroResources (BPRL) is a wholly-owned subsidiary of Bharat Petroleum Corporation, a central public sector undertaking company functioning under the Ministry of Petroleum and Natural Gas, Government of India.[1] It is engaged in the refining and marketing of petroleum products and is recognized as Maharatna as well as a Fortune Global 500 company.[2]
| Company type | Central Public Sector Undertaking |
|---|---|
| Industry | Oil and gas |
| Headquarters | Mumbai, Maharashtra, India |
BPRL is the upstream oil and gas exploration and production arm of BPCL with both Indian and worldwide exploration projects.[3][4]
History
editBPRL was formed in 2006 with an authorised capital of ₹1,000 crore to embark on the exploration of oil fields across the globe and expand crude supply to its parent firm Bharat Petroleum Corporation.[5]
BPRL pursues oil and gas development projects from Brazil to Mozambique. The company has acquired a 40 percent stake in an ultra-deepwater hydrocarbon block in Brazil for USD 1.6 billion after seeking approval from the Union Cabinet On July 27, 2022. The block is expected to start production by 2026-27. Brazil's national oil company Petrobras owns and operates it with a 60 percent interest.[6]
As of 2022, BPRL has Participating Interest (PI) in 26 oil and gas blocks, 13 of which are located in India and an equal number in overseas.[1]
Of these 13 overseas blocks, six are in Brazil, two are situated in UAE, and one each is in Australia, Indonesia, Mozambique, Timor Leste, and Israel. The blocks of BPRL are in various stages of exploration, appraisal, pre-development, and production phases.[1]
BPRL has equity stake in two Russian companies including Taas-Yuryakh Neftegazodobycha, which is a subsidiary of Rosneft established in 2000 holding the license to produce oil and gas from four producing blocks in Russia. BPRL also holds a stake in the special purpose vehicle (SPV), Urja Bharat Pte Limited, which bid for the Abu Dhabi exploration block.[7]
The company reported a consolidated income of Rs 181 crore and a loss of Rs 96 crore for the financial year (FY) 2018-19, as opposed to a consolidated income of Rs 216 crore and a loss of Rs 68.72 crore in the previous fiscal year.[8]
Board of directors
edit- Arun Kumar Singh (Director)
- Vetsa Ramakrishna Gupta (Director)
- Sanjay Khanna (Director)
- Kamal Chopra, Director (Finance)
- Krishnakant Joshi, Director (Operations & Business Development)
- Rajinder Kumar, (Government Director)
- Mona Jaiswal, (Independent Director)[9]
References
edit- ^ a b c "BPCL stake sale: A look at the Maharatna beyond refining and petrol pumps - ET EnergyWorld". ETEnergyworld.com. Retrieved 20 October 2022.
- ^ "Norwest Energy to farm-out Perth Basin gas permits to Bharat PetroResources". Proactiveinvestors UK. 19 August 2010. Retrieved 20 October 2022.
- ^ "Technology Transfer and Innovation in Global International Joint Venture". Researchget.
- ^ "BPCL signs pact with Brazil's Petrobras to diversify crude oil sourcing - ET EnergyWorld". ETEnergyworld.com. Retrieved 20 October 2022.
- ^ "Key milestones of an oil major BPCL". www.thehindubusinessline.com. 28 March 2021. Retrieved 26 October 2022.
- ^ "BPCL inks pact with Brazil's Petrobras to diversify oil sourcing". Moneycontrol. Retrieved 20 October 2022.
- ^ "IndianOil-led consortium awarded Abu Dhabi onshore block". Arabian Business.
- ^ "BPCL stake sale: A look at the Maharatna beyond refining and petrol pumps - ET EnergyWorld". ETEnergyworld.com. Retrieved 24 October 2022.
- ^ "Board of Directors". bharatpetroresources.in. Retrieved 26 October 2022.