Bharat Petroleum
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| File:Bharat Petroleum Logo.svg | |
| Company type | Public |
|---|---|
| BSE: 500547 NSE: BPCL | |
| Industry | Oil and gas |
| Founded | 1976 |
| Headquarters | Ballard Pier, Mumbai, Maharashtra, India |
Key people | R. K. Singh (Chairman & MD) |
| Products | Petroleum, natural gas, and other petrochemicals |
| Revenue |  US$ 34.10 billion (2011)[1] |
| US$ 358 million (2011)[1] | |
| Total assets | US$ 15.00 billion (2011)[1] |
| Total equity | US$ 3.44 billion (2011)[1] |
| Owner | Government of India |
Number of employees | 14,654 (2011)[1] |
| Website | www |
Bharat Petroleum Corporation Limited (BPCL) (BSE: 500547, NSE: BPCL) is an Indian state-controlled oil and gas company headquartered in Mumbai, India. BPCL ranked #272 in Fortune Global 500 list in 2011.[1]
History
In 1860s during vast industrial development, an important player in the South Asian market was the Burmah Oil Company. Though incorporated in Scotland in 1886, the company grew out of the enterprises of the Rangoon Oil Company, which had been formed in 1871 to refine crude oil produced from primitive hand dug wells in Upper Burma.
In 1928, Asiatic Petroleum Company (India) started cooperation with Burma oil company. This alliance led to the formation of Burmah-Shell Oil Storage and Distributing Company of India Limited. Burmah Shell began its operations with import and marketing of Kerosene.
On 24 January 1976, the Burmah Shell was taken over by the Government of India to form Bharat Refineries Limited. On 1 August 1977, it was renamed Bharat Petroleum Corporation Limited. It was also the first refinery to process newly found indigenous crude Bombay High.
In 2003, following a petition by the Centre for Public Interest Litigation, the Supreme Court restrained the Central government from privatizing Hindustan Petroleum and Bharat Petroleum without the approval of Parliament.[2] As counsel for the CPIL, Rajinder Sachar and Prashant Bhushan said that the only way to disinvest in the companies would be to repeal or amend the Acts by which they were nationalized in the 1970s.[3] As a result, the government would need a majority in both houses to push through any privatization.[4]
Operations
Bharat Petroleum owns refineries at Mumbai, Maharashtra and Kochi, Kerala (Kochi Refineries) with a capacity of 12 and 9.5 million metric tonnes per year
References
- ^ a b c d e f "2010 Bharat Petroleum Form 10-K". Retrieved October 7, 2011.
- ^ SAMANWAYA RAUTRAY AND PHEROZE L. VINCENT (March 4 , 2011). "Feather in cap for graft fighters". The Telegraph. Retrieved 2012-04-26.
{{cite web}}: Check date values in:|date=(help) - ^ Ramakrishna, G. V. (2004). Two Score and Ten: My Experiences in Government. Academic Foundation. p. 301. ISBN 8171883397.
{{cite book}}: Invalid|ref=harv(help) - ^ Gopal Ganesh (2008). Privatisation And Labour Restructuring. Academic Foundation. p. 136. ISBN 8171886345.
External links
Template:Major Indian companies
