|Bid||379.05 x 0|
|Ask||379.20 x 0|
|Day's range||377.75 - 393.50|
|52-week range||252.00 - 549.70|
|Beta (5Y monthly)||0.98|
|PE ratio (TTM)||24.42|
|Earnings date||06-Aug-2019 - 10-Aug-2019|
|Forward dividend & yield||24.50 (6.28%)|
|1y target est||N/A|
Big oil is increasingly trying to reduce risk, and increasing tensions between the U.S. and China means that it could start focusing on oil deals in India instead
India's gasoline and diesel demand is expected to return to pre-lockdown levels in July, an executive at the country's second largest fuel retailer Bharat Petroleum Corp said on Thursday. "The current demand for petrol and diesel is at 70% of levels seen before the lockdown," Vijayagopal N, director of finance at BPCL, said in a call with analysts on Thursday. Demand was recovering more quickly for gasoline than for diesel, he said, adding that it would take longer for consumption of other crude products such as bitumen and jet fuel to return to levels seen before the pandemic struck.
India Bharat Petroleum Corp has deferred the shutdown of secondary units at its Kochi and Mumbai refineries due to shortage of manpower and material to carry out the turnaround job, its head of refineries R. Ramachandran said. India imposed a sweeping lockdown of its 1.3 billion people on Wednesday for 21 days, and is only allowing the supply of essential commodities.
Indian refiner Bharat Petroleum Corp has bought 2 million barrels of extra Saudi oil for loading in April, a company official said, after the Kingdom slashed the selling price and announced plans to raise output to record 12.3 million barrels per day (bpd). "We will be taking two additional cargoes of Arab mix...we have got a mix of Arab light and Arab medium," BPCL's head of refineries R. Ramachandran told Reuters. UAE national oil company ADNOC said it would raise crude supply to more than 4 million bpd in April and would accelerate plans to boost its capacity to 5 million bpd, a target it previously planned to achieve by 2030.
Indian state refiners are close to signing their first annual deals to buy Russian oil, three sources privy to the development said, as the nation moves to tap new sources to hedge against geopolitical risks. India, the world's third biggest oil consumer and importer, which ships in over 80% of its needs, usually relies on the Middle East for the majority of its supply. The country's top refiner IOC has already told Russia's Rosneft that it intends to buy as much as 40,000 bpd of Russian crude, one of the sources said, some 2.5% of its total refining capacity.
Indian companies are seeking liquefied natural gas (LNG) cargoes for delivery in February in the spot market, industry sources said on Tuesday. India's Bharat Petroleum Corp Ltd is seeking a cargo for delivery into Dahej on Feb. 19 in a tender that closes on Jan. 7 and is valid for a day, they said. Indian Oil Corp is seeking a cargo for delivery into Dahej on Feb. 18 and another cargo for delivery into Ennore for Feb. 1-20 through two tenders closing this week, one of them said.
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.