Bharat Petroleum

Bharat Petroleum Corporation Limited, better known as BPCL, started life in 1903 as the Burmah Oil Company in Rangoon, Burma. The British-owned enterprise was nationalized by the Indian government in 1976 and reborn as Bharat Petroleum. Today it is India's second-largest government-owned downstream oil producer, operating under the Ministry of Petroleum and Natural Gas. The company runs three refineries: Mumbai (12 MMTPA), Kochi (15.5 MMTPA), and Bina (10.7 MMTPA), with a combined capacity of 38.2 million metric tonnes per annum.

BPCL holds about 22% of India's petroleum products market, with over 21,000 retail fuel outlets across the country. Its product range covers petrol, diesel, aviation turbine fuel, LPG under the Bharatgas brand, lubricants under MAK and Bharat Lubricants, and petrochemicals. The company has also moved into renewables with solar projects, biofuels, and compressed biogas plants. Its Pure for Sure campaign and SmartDrive loyalty program are well-known among Indian consumers.

Financially, BPCL reported revenue of ₹4.56 lakh crore ($55 billion) for FY 2023-24, with a net profit of ₹26,673 crore. The government owns about 52.98% of shares, with the rest publicly traded on the BSE and NSE. A 2020 attempt to privatize the company was abandoned in 2022 due to volatile oil prices and lack of investor interest.[edit]