|Bid||457.45 x 0|
|Ask||457.70 x 0|
|Day's range||451.75 - 466.30|
|52-week range||308.55 - 549.70|
|Beta (5Y monthly)||0.58|
|PE ratio (TTM)||13.70|
|Earnings date||06-Aug-2019 - 10-Aug-2019|
|Forward dividend & yield||16.00 (3.47%)|
|1y target est||N/A|
Executives at major state-run Indian companies voiced their opposition to government plans to privatise oil refiner Bharat Petroleum Corp Ltd in a statement released by industry bodies on Monday. Prime Minister Narendra Modi's government last month approved the sale of BPCL and four other state-run companies, in what is seen as the biggest privatisation push in India in decades and a way to plug a widening fiscal gap as New Delhi looks to revive a slowing economy. Thousands of workers have already protested the privatisation of BPCL, fearing job losses, as India plans to invite international energy firms to participate in the privatisations.
KOCHI/BENGALURU (Reuters) - Thousands of employees across India on Thursday protested an upcoming stake sale at state owned refiner Bharat Petroleum Corporation Ltd (BPCL), fearing loss of jobs and benefits. In what is seen as the biggest privatisation push in India in decades, Prime Minister Narendra Modi's government last week approved the sale of BPCL and four other state-run companies. Unions of other state-run companies such as Hindustan Petroleum Corp Ltd and Mangalore Refinery and Petrochemicals Ltd (MRPL) joined forces with BPCL workers to protest against the privatisation plans.
India has agreed to sell stakes in five state-run companies, including oil refiner Bharat Petroleum Corp (BPCL), finance minister Nirmala Sitharaman said on Wednesday, a move that could help bridge a widening fiscal gap. Prime Minister Narendra Modi's government has also approved the sale of holdings in logistics firm Container Corp of India Ltd and Shipping Corp of India, Sitharaman told reporters after a cabinet meeting. India has set a target of raising 1.05 trillion rupees ($14.6 billion) through the sale of state stakes in companies by March 2020.
India's Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) continue to import gasoline to plug a persistent supply gap as their refineries undergo maintenance and upgrade to produce cleaner fuels. BPCL on Wednesday bought 20,000 tonnes of gasoline for Sept. 16-18 arrival at Kandla at premiums of about $4 a barrel to Singapore quotes on a cost-and-freight (C&F) basis, industry sources who track the fuel said on Thursday. This has pushed its total purchases for cargoes scheduled for a seven-month delivery period over March to September to at least 110,000 tonnes.
Malaysia's Petroliam Nasional Bhd (Petronas) and a consortium led by Japan's JXTG Holdings Inc are among the companies interested in buying a stake in India's Bina oil refinery, a source close to the matter said. The Bina plant in central India, capable of processing 156,000 barrels per day (bpd) of crude oil, is operated by Bharat Oman Refineries Ltd (BORL), a 50-50 joint venture between Oman Oil Co and state-run Bharat Petroleum Corp (BPCL).
India's Bharat Petroleum Corp Ltd has bought gasoline for Kandla in a rare move to meet demand and plug a supply gap after cancelling an earlier purchase tender, industry sources said on Tuesday. BPCL bought 20,000 tonnes of 91.2-octane grade gasoline at a premium of about $9 a barrel to Singapore quotes on a cost-and-freight (C&F) basis. The fuel is of Euro IV-compliant grade and scheduled for July 18-22 arrival at Kandla port located in Gujarat state of western India.
India's Sikka Ports and Terminals Ltd, which handles crude oil and refined products for Reliance Industries Ltd, closed berthing of vessels at its western Indian port on Wednesday due to a cyclone warning, according to a port notice and a shipping industry source. Sikka ports also handle oil and refined products cargo for Bharat Oman Refineries Ltd, a subsidiary of Bharat Petroleum Corp Ltd. Most of the vessels have already been moved out as a safety precaution," said a shipping industry source.
Indian refiners are increasing their planned purchases from OPEC nations, Mexico and the United States to make up for any loss of Iranian oil if the U.S. enforces sanctions more harshly from next month, sources and company officials said. All four Indian state-owned refiners that buy Iranian oil are confident of securing additional barrels from other producers, officials from the companies told Reuters. India's Bharat Petroleum Corp (BPCL) and Mangalore Refinery and Petrochemicals Ltd (MRPL) have tapped Iraq to make up for Iranian oil, while Indian Oil Corp (IOC) has signed its first annual contract with U.S. suppliers and raised supplies from Mexico.
India's Bharat Petroleum Corp Ltd has sold a naphtha cargo out of Kochi for the first time this year after cancelling two earlier sales tenders, industry sources said on Monday. BPCL sold 35,000 tonnes of naphtha for May 2-3 loading from Kochi to Japanese trader Petro-Diamond at a premium of about $16 a tonne to its own price formula on a free-on-board (FOB) basis. It skipped exporting the fuel from Kochi for January and April 2019 loading and cancelled sales tenders for February and March cargoes.
India's Bharat Petroleum Corp Ltd has bought a gasoline cargo for first-half March arrival, two trade sources said on Monday. BPCL bought late last week 35,000 tonnes of 91.5-octane gasoline at a low single-digit ...
India's Bharat Petroleum Corp Ltd reported on Friday a 77 percent plunge in third-quarter net profit, dragged down by higher expenses including raw material costs. Profit came in at 4.95 billion rupees ...
Indian Bharat Petroleum Corp Ltd is seeking liquefied petroleum gas (LPG) through a term contract and gasoline via a spot deal in a rare move as it looks to plug a supply gap, an industry source who tracks oil products said on Thursday. In tender documents seen by Reuters, two separate tenders showed the refiner which operates refineries in Kochi and Mumbai was looking to buy a total of 440,000 tonnes of LPG for April 1, 2019 to March 2020 arrival at Dahej/Haldia or Dahej/Mangalore and 35,000 tonnes of 91.5-octane grade gasoline for March 1-12 arrival at Kochi. BPCL does not regularly import gasoline as India is a net exporter of petrol.