New Delhi: Bharat Petroleum Corporation Ltd (BPCL) expects full-scale development at the Mozambique LNG project to resume shortly, following improved security conditions. BPCL holds a 10 percent stake in the venture, which was earlier delayed due to regional unrest.
At the company’s 72nd Annual General Meeting, Chairman and Managing Director Sanjay Khanna highlighted that the two-train LNG project will enhance BPCL’s upstream portfolio and aid its energy transition strategy once operational.
Progress in Overseas Assets
BPCL also reported advances in its international oil and gas projects. In Brazil, the BM-SEAL-11 block has entered the tendering phase for a Floating Production Storage and Offloading (FPSO) vessel and other long-lead items.
In Indonesia, the Nunukan block has secured regulatory approval for its Plan of Development, enabling the project to move forward. These developments reinforce BPCL’s commitment to expanding its global upstream presence.
Andhra Pradesh Refinery Plans
Khanna announced that BPCL is evaluating a new refinery-cum-petrochemical complex near Ramayapatnam Port in Andhra Pradesh. Pre-project activities are underway for the proposed greenfield facility, which aims to expand the company’s petrochemical capacity and offset long-term fuel market volatility.
Petrochemical Expansion on Track
Two major petrochemical projects in Bina and Kochi, with a combined investment of Rs 54,000 crore, are progressing on schedule. To support the Bina refinery expansion, BPCL has secured a Rs 31,802 crore loan from an SBI-led consortium, marking the largest loan in the company’s history.
Renewable Energy and Hydrogen Initiatives
BPCL reaffirmed its commitment to building 10 GW of renewable energy capacity by 2035. A joint venture with Sembcorp Green Hydrogen India Pvt Ltd has been established to drive large-scale green hydrogen and renewable projects.
The company has commissioned a 5 MW electrolyser at its Bina refinery and is preparing to launch a hydrogen refueling station at Kochi in partnership with Cochin International Airport Ltd. Hydrogen mobility pilots, including buses and VTOL aircraft, are also in progress.
Biofuel Expansion and Ethanol Targets
BPCL’s ethanol blending rate reached 16.35 percent in FY25 and has already touched nearly 20 percent, ahead of the 2025-26 national target. The company is scaling up compressed biogas (CBG) projects, with 10 plants operational and 25 more in development.
It has partnered with GPS Renewables through a joint venture and is finalizing another JV with Praj Industries to accelerate CBG growth.
About BPCL
Bharat Petroleum Corporation Limited, a Maharatna PSU, is one of India’s leading energy companies with a strong presence across refining, fuel marketing, upstream exploration, and renewables. The company is driving energy transition through investments in petrochemicals, biofuels, hydrogen, and green energy, while also expanding its global oil and gas portfolio.
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