News Oil & Gas

BPCL to shut 4.5 mln ton/year crude unit at Kochi refinery in Sept-Oct

Bharat Petroleum Corp is planning to shut a 4.5 million metric ton-per-year (90,000 barrels per day) crude unit and some secondary units for 30 days at its Kochi refinery during September-October, Reuters claimed quoting a company executive said on Tuesday.
BPCL operates a 310,000-barrels-per-day refinery in Kochi, southern India.

Separately, the company is looking to expand its refining capacity by 25% in the coming four years, the executive said on the sidelines of India Energy Week event in Goa.

Earlier this month, BPCL announced a net profit of Rs 22,449.32 crore in the 9-month period of current fiscal as compared to a loss of Rs 4,607.64 crore in the same period last year.

This profit was higher than Rs 1,870.10 crore earning in 2022-23 and Rs 8,788.73 crore in FY22. HPCL’s 9-month profit of Rs 11,851.08 crore compared with a Rs 8,974.03 crore loss in FY23 and a profit of Rs 6,382.63 crore in 2021-22.

The fuel price freeze that began on April 6, 2022, had a loss as high as Rs 17.4 a litre on petrol and Rs 27.7 per litre on diesel for the week ended June 24, 2022. However, subsequent softening led to losses being eliminated.

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