Bharat Petroleum Corporation Limited Company Profile

Company Overview:

Bharat Petroleum Corporation Limited  is an India-based oil marketing company that focuses on refining, processing, and distributing petroleum products. It primarily offers petrol, diesel, kerosene, aviation fuel, liquefied petroleum gas (LPG), compressed natural gas (CNG), and lubricants. It is also engaged in exploration and production of hydrocarbons. The company primarily operates in India.

BPCL operates through two business segments: Downstream Petroleum; and Exploration and Production (E&P) of Hydrocarbons.

The company's Downstream Petroleum segment’s activities include refining and marketing of petroleum products. Its petroleum products include fuels, gases, lubricants, solvents, and special products. The company also produces bitumen and sulfur. BPCL produces three categories of industrial fuels, including marine fuels (which include high flash high speed diesel (HFHSD) and furnace oil); black oils, which include light diesel oil (LDO); and white oils, which comprise motor spirit (petrol), high speed diesel (HSD), kerosene (SKO), and naphtha. BPCL also offers various gases, including poly propelene feed stock, natural gas, LPG, and Bharat metal cutting gas. The company markets its products through its network of retail outlets, gas stations, kerosene dealers, LPG distributors, and lubricant shops, as well as supplying fuels directly to international and domestic airlines.

During FY2016, BPCL’s Refineries at Mumbai and Kochi had a crude throughput of 24.12 million metric tons (MMT) during FY2016. Moreover, the aggregate refinery throughput at BPCL's refineries at Mumbai and Kochi, along with its subsidiary company, Numaligarh Refinery (NRL) and 50% throughput of joint venture company, Bharat Oman Refineries (BORL) was 29.82 MMT. The company generated market sales of 36.83 MMT of petroleum products and exported a total of 1.9 MMT of petroleum products.

Under the lubricants division, BPCL offers various kinds of lubricants including automotive engine oils, agricultural equipment engine oils, earthmoving equipment engine oils, gear oils, transmission oils, specialty oils, and greases. In the automotive category, the company supplies lubricants with the MAK brand. BPCL is marketing MAK lubricants across India through its network of 13,439 fuel stations and 591 lubricants distributors spread across the country. During FY2016, the company produced a total of 295,509 million tons (MT) of lubricants and sold 322,000 MT.

BPCL produces bitumen which is used for road construction, surfacing airfield runways and taxi tracks, hydraulic applications such as canal lining, river bank protection, dam construction, and sea defenses. The company also manufactures sulfur as a by-product which finds its applications in the manufacturing of sulfuric acid and in the manufacture of fertilizers.

The company's products under solvent and special products category include mineral turpentine, special boiling point (SBP) spirits, hexane, benzene, and toluene. The mineral turpentine is used in the manufacture of surface coatings, like paints, varnished, and lacquers; and in dry cleaning.

BPCL supplies aviation fuel through its network of aviation fueling stations spread across the India. The company operated 40 aviation service stations in FY2016 and sold a total of 1.3 MMT of aviation fuel. The company is also engaged in the LPG market for homes which involve home delivery of gas cylinders and LPG supplies through pipeline to mega residential complexes. The company supplies its LPG under the brand Bharatgas.

In FY2016, the company operated 50 LPG bottling plants and 4,494 distributors serving a customer base of 50.6 million. In addition, the company filled a total of 4.6 MMT of gas in cylinders during FY2016. In addition, BPCL handled approximately 1,088,000 metric tons of gas. Out of this, 268,000 metric tons of gas was supplied to Mumbai Refinery, 102,000 metric tons was supplied to Kochi Refinery for own use requirements and the balance of approximately 718,000 metric tons of gas was sold to various customers across different sectors like fertilizer, power, and steel, among others. Moreover, approximately 12,000 metric tons of LNG was supplied through tank trucks to customers who are located away from the pipeline grids.

The company's industrial and commercial business unit (I&C SBU) caters to over 8,000 industrial customers across India which include industries from the public and private sectors, of the core and non-core segments, and various government establishments such as defense, railways, state transport undertakings, and state electricity boards. During FY2016, the industrial and commercial business recorded a recorded sales of 4,033,210 metric tons.

In FY2016, the Downstream Petroleum segment reported revenues of INR1,891,396.2 million, which accounted for 100.0% of the company's total revenue.

BPCL's E&P of Hydrocarbons segment operates through Bharat Petro Resources (BPRL), a wholly-owned subsidiary of the company. BPRL is engaged in the E&P activities of oil and gas. BPRL has participating interests in 17 exploration blocks across six countries, in consortium with other partners. Out of these blocks, seven blocks are in India and six in Brazil, and one each in Mozambique, Indonesia, Australia and East Timor. The total area of these 17 blocks (where BPRL/its subsidiaries have PI) is around 24,375 square kilometers (sq.km), of which approximately 88% is offshore acreage.

In FY2016, the Exploration and Production of Hydrocarbons segment reported revenues of INR33.7 million, which accounted for 0.0% of the company's total revenue.

Apart from the refining, marketing, exploration, and production activities, the company is also involved in crude imports. The total crude oil requirement for BPCL refineries is approximately 33 million metric tons per annum (MMTPA). Of this, approximately 20% of crude oil is available indigenously and balance crude is imported. The quantum of crude oil imported during FY2016 stood at 18.47 MMT.

Scope of the Report

• About the Company - Historical Details, Current Ownership Structure and basic overview of Bharat Petroleum Corporation Limited in terms of revenue, net income, and operating income.
• Financials - Details about Bharat Petroleum Corporation Limited listing status, annual financial reports (for the past 5 years), key financial highlights and region wise and category wise breakdown of their net revenue.
• Products / Services - Listing of the company’s entire portfolio along with description of individual products / services providing a clear picture of their target audience.
• Company SWOT Analysis - Outlines Bharat Petroleum Corporation Limited’s strengths, weaknesses, and opportunities and threats facing the company.
• Recent Developments - Showcases Bharat Petroleum Corporation Limited’s recent developments including mergers, acquisitions, partnerships, collaborations, new product launches, investment and divestment plans.
• Strategic Evaluation - Provides an overview of Bharat Petroleum Corporation Limited’s corporate goals and strategic initiatives and evaluates their outcomes along with outlining any persisting legal issues and outlook of our in-house analyst panel on the particular company.
• Technology Landscape - Details how the company allocates its IT budget across the core areas of its business, CIO/CTO Profile, Key IT Initiatives and Deals undertaken buy the company at present along with outlook.

Key Questions Answered

• What domain does Bharat Petroleum Corporation Limited operate and what are key points about it?
• What is the product / service portfolio of Bharat Petroleum Corporation Limited?
• How has Bharat Petroleum Corporation Limited performed financially from the 2013?
• How does Bharat Petroleum Corporation Limited rank among its peers in terms of revenue and market share?
• What are Bharat Petroleum Corporation Limited strengths and weaknesses and what opportunities and threats does it face?
• What are Bharat Petroleum Corporation Limited’s main growth strategies and how successful has the company been at implementing them?
• What is the in-house technical capability of Bharat Petroleum Corporation Limited? Where does it procure / outsource it?

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