Mumbai: Bharat Petroleum Corporation Limited (BPCL), one of India’s leading energy companies, marked its 72nd Annual General Meeting with a celebration of its golden jubilee and a reaffirmation of its commitment to shaping India’s energy future. The company reported record-breaking performance for FY 2024–25 and outlined bold plans to drive growth across refining, petrochemicals, renewables, and green energy.
India’s Economic Strength Amid Global Uncertainty
Despite global challenges—including geopolitical tensions, trade disruptions, and economic volatility—India’s economy grew at a robust 6.5%, becoming the world’s fourth-largest economy. BPCL highlighted India’s structural resilience and strategic vision, anchored in the goal of becoming Atmanirbhar Bharat by 2047.
“India’s progress is relentless and purposeful. Our resilience lies not in calm seas, but in deep roots and unwavering vision,” said the Chairman.
Global Oil Dynamics and India’s Energy Future
India is projected to add 1 million barrels per day of incremental oil demand by 2030—the highest globally. BPCL reaffirmed its commitment to a balanced energy transition, integrating hydrocarbons with renewables to ensure affordability, security, and sustainability.
The company’s strategic initiative, Project Aspire, will guide its transformation over the next five decades—strengthening core operations while expanding into petrochemicals, biofuels, green hydrogen, and gas.
BPCL’s Performance
BPCL reported its highest-ever standalone net profit of ₹13,275 crore, leading all PSU oil marketing companies. Key achievements include:
– Crude throughput: 40.5 MMT (115% of design capacity)
– Market sales: 52.4 MMT
– Capital expenditure: ₹16,967 crore (up 45% YoY)
– Dividend payout: ₹10 per share (including interim dividend)
The company also received prestigious accolades including Oil & Gas Retailer of the Year and Digitally Advanced Company of the Year from FIPI.
Refining & Petrochemical Expansion
BPCL’s refineries achieved zero Loss Time Accidents across Mumbai, Kochi, and Bina—underscoring its “Safety First, Safety Must” philosophy. Major investments include:
– Mumbai Refinery Upgrade: ₹14,200 crore for PRFCC unit and associated facilities
– Petrochemical Projects: ₹54,000 crore at Bina and Kochi, progressing on schedule
– Historic Loan Agreement: ₹31,802 crore from SBI Consortium for Bina project
BPCL is also evaluating a greenfield refinery-cum-petrochemical complex near Ramayapatnam Port, Andhra Pradesh.
Honoring Leadership & Legacy
The company paid tribute to its former Chairman & MD, Krishnakumar Gopalan, and former Director (Marketing), Sukhmal Kumar Jain, for their visionary leadership and contributions to BPCL’s growth.
Upstream Expansion: Securing India’s Energy Future
BPCL, through its subsidiary BPRL, is actively expanding its upstream portfolio to enhance energy security. Key developments include:
– Mozambique’s Offshore Area 1: 10% stake in a world-class gas asset with 70 TCF of recoverable resources. Full-scale development expected to resume soon.
– Brazil (BM-SEAL-11): Progressing to tendering stage for FPSO and long-lead items.
– Indonesia (Nunukan): Regulatory approval received for Plan of Development.
India’s upstream sector is poised for growth, supported by the Oilfield Regulatory and Development Amendment Act, 2025, which simplifies approvals and encourages investment.
Marketing Excellence and Customer-Centric Innovation
BPCL retained its position as the second-largest OMC, driven by strong market sales and customer-focused initiatives:
– Digital payments, loyalty programs, and services like Pure for Sure, UFill, Apna Ghar, and BeCafe
– Retail sales: 33.5 MMT (up 2.6%), with petrol sales growing 6.4%
– Highway dominance: 31.7% market share in HSD
– Retail network: Over 24,000 outlets
UFill scaled to 14,000 outlets with 118 million transactions. Apna Ghar trucker centres reached 152 locations, while BeCafe expanded to 111 outlets nationwide.
The #SilentVoices initiative created employment for over 560 Speech & Hearing Impaired individuals across 400+ outlets in 80+ cities.
LPG
BPCL’s LPG business achieved packed LPG sales of 8.3 MMT and a market share of 27.5%, leading across all segments. Innovations include:
– Zero Ka Dum quality challenge
– Bharatgas Insta-Smart Cylinder Vending Machine for 24×7 contactless service
– HelloBPCL app with Aadhaar integration and real-time delivery confirmations
– Urja Devis: 2,600+ village-level women entrepreneurs driving rural LPG penetration
The Union Cabinet’s ₹30,000 crore compensation for under-recoveries provided crucial support.
Industrial, Commercial, and Petrochemical Growth
BPCL achieved record industrial and commercial sales of 7.3 MMT, supported by strategic imports and supply chain optimization. Petrochemical sales reached 255 TMT—another record.
Lubricants: MAK’s Market Leadership
MAK Lubricants posted its highest-ever volume of 472 TMT, launching 12 new grades and 71 SKUs across automotive, industrial, and defense sectors. Digital platforms like MAKonnect and MAK Serve deepened engagement with customers and mechanics.
Aviation: Soaring to New Heights
BPCL’s aviation business crossed pre-pandemic ATF sales levels, reaching 1,968 TMT and a market share of 24.7%. The company added 16 new international airline contracts and expanded its fuelling network to 77 stations.
Gas Business: Enabling Cleaner Mobility and Energy Access
BPCL supplied 1,829 TMT of gas in FY 2024–25, with 3% overall growth and an 80% surge in City Gas Distribution. Investments of ₹2,283 crore supported CGD infrastructure, including:
– CNG Stations: 840 commissioned, 634 operational, 100 more planned
– PNG Connections: 2.33 lakh new connections, total 5.64 lakh
– Pipeline Infrastructure: 23,500 inch-km of steel pipelines laid
BPCL’s gas business is driving sustainable, affordable, and reliable energy solutions across India.
Green Energy: Accelerating the Transition
BPCL aims to achieve Net Zero Scope 1 and 2 emissions by 2040 and build a 10 GW renewable portfolio by 2035. Key developments:
– Installed Capacity: 155 MW from solar and wind
– Upcoming Projects: 71 MW solar plant (Prayagraj), 50 MW wind farms (MP & Maharashtra)
– Joint Venture: With Sembcorp Green Hydrogen India Pvt. Ltd.
– Green Hydrogen: 5 MW electrolyzer at Bina; refueling station at Kochi
– Biofuels: Ethanol blending at 16.35%, nearing 20% target
– CBG Plants: 10 commissioned, 25 more planned
– Joint Ventures: With GPS Renewables and Praj Industries
– Bargarh Bioethanol Refinery: Under commissioning
Research & Development: Driving Innovation
BPCL’s CRDC and P&AD Centres are pioneering technologies in hydrogen, renewables, biofuels, and advanced lubricants. Breakthroughs include:
– High-efficiency PNG stoves
– Super Absorbent Polymer (SAP)
– Carbon capture solutions
– Pilferage-proof LPG systems
– AI-enabled refinery optimization
Multiple patents have been filed, with several technologies successfully commercialized.
Corporate Governance: Built on Integrity
BPCL’s governance framework emphasizes transparency, accountability, and stakeholder trust. Key pillars include:
– Internal Audit and Vigilance
– Whistle Blower Policy
– Board Diversity and Leadership Transitions
– Social Responsibility and Ethical Oversight
Human Resources: Empowering People, Building Futures
BPCL is investing in a future-ready workforce through:
– Talent Management and Leadership Development
– Largest Talent Induction in Recent Years
– Employee Wellness and Engagement
– Sports Infrastructure at 85+ locations
– Sports Scholarship Programme: Supporting 100 athletes across 14 disciplines
– Achievements: 250+ athletes nurtured, 65 represented India, 15 received Arjuna Awards
Corporate Social Responsibility: Energizing Communities
CSR at BPCL is about lasting impact and national transformation. In FY 2024–25, ₹179 crore was invested, with cumulative contributions crossing ₹1,600 crore. Focus areas:
– Healthcare: Lifeline Express, mobile units, Kedarnath hospital, AI telemedicine kiosks, robotics-assisted surgery (IIT Madras), CCRC Amenity Centre
– Education & Skills: Scholarships, SDI Kerala (97% placement), new SDI Kochi, Project Swavalamban at Bina
– Environment: Drone seed dispersal, afforestation, solar RO plants, Swachhata campaigns
CSR is central to BPCL’s role in building Viksit Bharat by 2047, empowering communities and driving self-reliance.
Chairman’s Closing Remarks: A Golden Jubilee of Purpose & Progress
“From modest beginnings to a leading national energy company—this is not just growth in numbers. This is the story of scale, discipline, and nation-building. BPCL’s journey from 3,000 retail outlets to over 24,000, from 3.8 MMT crude processing to 40.5 MMT, and from ₹552 crore turnover to ₹5 lakh crore, reflects its unwavering commitment to India’s progress.
As BPCL embarks on a multi-year capex cycle, timely execution and stakeholder trust remain paramount. The company acknowledges the contributions of its employees, partners, vendors, and shareholders, and welcomes new Board members Asheesh Joshi and Subhankar Sen. A heartfelt thanks to the Government of India, State Governments, and the Ministry of Petroleum and Natural Gas for their continued support.
Together, we will keep energizing lives, empowering communities, and driving India’s future forward.”
-Sanjay Khanna, Chairman & Managing Director, BPCL.
About BPCL:
Bharat Petroleum Corporation Limited is a Fortune Global 500 company and one of India’s largest integrated energy players. With a strong presence across refining, marketing, and upstream operations, BPCL is committed to powering India’s energy future through innovation, sustainability and strategic investments.
