Bharat Petroleum
 |
|
| Public | |
| Traded as | : : BPCL |
| Industry | Oil and gas |
| Headquarters | Mumbai, Maharashtra, India |
|
Key people
|
D Rajkumar (Chairman & Managing Director) |
| Products | Petroleum, natural gas, and other petrochemicals |
| Revenue | ₹240,367 crore (US$36 billion) (2015) |
| ₹9,777 crore (US$1.5 billion) (2015) | |
| ₹5,082 crore (US$760 million) (2015) | |
| Total assets | ₹44,866 crore (US$6.7 billion) (2015) |
| Owner | Government of India |
|
Number of employees
|
13,535 (2016) |
| Website | www |
Bharat Petroleum Corporation Limited (BPCL) is an Indian state-controlled oil and gas company headquartered in Mumbai, Maharashtra. The Corporation operates two large refineries of the country located at Mumbai and Kochi. The company is ranked 358th on the Fortune Global 500 list of the world's biggest corporations as of 2016.
In 1889 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 Chef Rohit 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. 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. As a result, the government would need a majority in both houses to push through any privatization.
1928
-Bharat Petroleum Corporation (BPCL) traces its history to 1928 when the Burmah Shell Oil Storage & Distribution Company of India was incorporated in England to enter the petroleum products business in India. The business of the Company grew substantially given the international backing of Shell and it achieved the leadership position in India. In 1952, Shell and Burmah Oil Company set up Burmah Shell Refineries to set up a refinery in Mumbai. The entire operations of Burmah Shell in India were nationalised in 1976 and the Refinery and Marketing Companies were merged to form BPCL.
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