New Delhi: State-owned Bharat Petroleum Corporation plans to invest Rs 1.7 lakh crore over the next five years to grow its middle oil refining and fuel marketing commercial enterprise as well as in ‘destiny large bets’ of petrochemicals and inexperienced electricity, its chairman G Krishnakumar has said. Bharat Petroleum Corporation Ltd (BPCL), presently, owns about 14 consistent with cent of India’s oil refining capacity and approximately 1 / 4 of the gas retailing network. It plans to grow these groups whilst foraying into more modern areas.
The firm is now implementing the primary segment of a multi-decade aspirational adventure inside the shape of ‘Project Aspire’ – its 5-year strategic framework that is primarily based on two essential pillars – ‘Nurturing the Core’ and ‘Investing in Future Big Bets’, he said inside the agency’s modern-day annual file.
“Our mid-time period approach is on a continuum. While we remain committed to developing our centre corporations, which include refining and advertising petroleum
With a planned capex outlay of around Rs 1.70 lakh crore over five years, Project Aspire will permit us to create lengthy-term costs for our stakeholders while preserving our planet for destiny generations,” he said.
“A cornerstone of our lengthy-term approach, Project Aspire, with a Rs 1.70 trillion funding, marks the preliminary segment of our multi-decade odyssey to form the power of the next day. This, coupled with our strong stability sheet, fuels our ambition to steer the energy transition.”
The enterprise is targeting internet 0 carbon emissions from its operations with the aid of 2040.
“BPCL has drawn a net-zero roadmap, which encompasses renewable power, green hydrogen, compressed biogas, carbon seize, utilisation, and garage (CCUS), performance development and the offsets procurements. This would require a phased capital outlay of approximately Rs 1 lakh crore until 2040, and the business enterprise is geared for the equal,” he said.
The firm’s guess on continuing investing in centre businesses
is based totally on the premise that India’s booming financial system will pressure a 4-5 in line with a cent annual increase in electricity call for and petroleum product intake. Also, the demand for primary petrochemical products is expected to rise by way of 7-8 according to cent annually.
“This provides a strategic opportunity to amplify refining capability alongside the development of included petrochemical complexes,” he stated.
BPCL is imposing new petrochemical tasks at one of its three oil refineries. A Rs 49,000 crore ethylene cracker challenge is being implemented at the Bina refinery in Madhya Pradesh, along with elevating oil refining potential from the present day 7.8 million tonnes to eleven million tonnes yearly by way of 2029. A polypropylene mission is being installed at Kochi refinery in Kerala through 2027.
To meet the expected demand past our deliberate expansions in Bina and Kochi, we are actively comparing alternatives for putting in additional integrated refining and petrochemical capacities inside the subsequent 5-7 years,” Krishnakumar said without disclosing either the investments or the region of such an undertaking.
Andhra Pradesh is being speculated as the probable website after Prime Minister Narendra Modi’s BJP and regional birthday celebration TDP stormed to strength in the country in recently concluded meeting elections. TDP has been stressful the implementation of a refinery-cum-petrochemical complex that became promised as a part of the package deal whilst the country turned into break up greater than a decade again.
“Our funding within the petrochemical assignment is regular with our aspiration of turning into a dominant player in India’s petrochemical boom story,” Krishnakumar stated.
On electricity transition, he stated BPCL is focused on constructing 2 gigawatts (GW) of renewable power ability through 2025 and 10 GW with the aid of 2035.
“We are investing nearly Rs 1,000 crore to set up two 50 MW captive wind energy flowers in Maharashtra and Madhya Pradesh, to guide our refineries in Mumbai and Bina.”
The corporation is also investing around Rs 300 crore in 72 MWp of solar tasks in Prayagraj, Uttar Pradesh.
Concomitantly, we are executing green hydrogen initiatives aligned with the National Green Hydrogen Mission. These initiatives encompass a 5 MW electrolyser plant at Bina refinery and a green hydrogen refuelling station with an indigenously evolved electrolyser at Kochi,” he cited.
BPCL, he said, is devoted to assisting the transition to electric-powered mobility via a sturdy and on-hand charging infrastructure.
The agency has hooked up over 3,000 charging stations, which include speedy chargers for motors and -wheelers. 900 speedy chargers are mounted across one hundred twenty toll road corridors, which enables coping with the variety, discovery and time anxiety of electrical automobile (EV) owners.
Over the next 5 years, we goal to install four-wheeler speedy chargers at approximately 6,000 retail outlets across 400 highway corridors, prioritising high-traffic corridors just like the Golden Quadrilateral and N-S/E-W highways,” he said.
On biofuels, he said BPCL sells petrol with 20 in keeping with cent ethanol blend at 4,279 out of its over 22,000 petrol pumps.
It additionally builds compressed biogas plants the use municipal strong waste to make gas that may be used as CNG in cars.
The company is likewise exploring partnerships within the arena
These blended efforts, at the side of the imminent commissioning of a bio-ethanol refinery, position BPCL as a key participant in India’s transition to a greener gasoline blend, creating strong surroundings for the adoption of cleaner fuels throughout the u.S .,” he introduced
BPCL is establishing a corporate project capital fund to make investments directly in promising startups.
To thrive in this complicated and tough commercial enterprise landscape, we can leverage our agility and attention to operational excellence to ensure endured achievement. Safety and reliability will remain our pinnacle priorities, guiding all our movements. We are committed to upholding the best standards of corporate governance,” he added.
He said the power area of India stands at an inflexion factor.
The state has a bold imaginative and prescient of becoming a USD 30 trillion advanced economy via 2047. ‘Viksit Bharat @2047’ will necessitate an almost fourfold boom in primary strength call for.”
India’s exponential increase trajectory will propel it to a pivotal position inside the worldwide energy market, accounting for kind of 12 lines with cent of world strength consumption with the aid of 2047.
The key strategic objectives for India in the strength region will entail good sized enlargement in refining capacities, elevating the proportion of fuel within the energy basket from approximately 6 in step with cent to fifteen in line with cent, setting up management in petrochemical exports, and sharply lowering power imports from modern levels of 47 per cent to below 25 per cent using 2030 and to zero through 2047,” he said.
India is concentrated on 500 GW of non-fossil gasoline energy ability, sourcing 1/2 of its power needs from renewables, decreasing carbon emissions using 1 billion tonnes and lowering carbon intensity by way of 45 in line with cent via 2030 with the last purpose of internet-0 emissions by 2070.
“Building on its sturdy Indian electricity presence, BPCL aspires to fulfil 7-10 consistent with cent of the nation’s number one electricity demand with the aid of 2047,” he stated.
