Bharat Petroleum details the way it is ‘energising lives’ in India

G. Krishnakumar, Chairman and Managing Director of Bharat Petroleum, tells India Energy Week News about its core purpose and mission to become a global integrated energy company leveraging talent, innovation and technology for the country’s future.

Can you tell us more about Bharat Petroleum and its contribution to the Indian energy sector? 

Bharat Petroleum Corporation Limited (BPCL) is a Fortune 500, Maharatna, integrated energy company, and the second largest in India. We are engaged in the refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. BPCL’s refineries at Mumbai, Kochi and Bina have a combined capacity of around 35.3 MMTPA. Our marketing infrastructure includes a vast distribution network of installations, 83 depots, more than 21,000 energy stations, and 6,000 LPG distributorships.

Bharat Petroresources Limited (BPRL), a wholly owned subsidiary of BPCL, was formed in 2006 for security in feedstock supplies. We have assets in India, Russia, UAE, Brazil, Mozambique and Indonesia. With ‘Energising Lives’ as its core purpose, Bharat Petroleum’s vision is to be a well-respected global integrated energy company leveraging talent, innovation and technology. BPCL is integrating its strategy, investments, environmental and social ambitions to move towards a sustainable planet.

Can you share some highlights of Bharat Petroleum’s future growth plans and partnerships?

In alignment with our commitment to achieve net-zero carbon emissions by 2040, encompassing both Scope 1 and Scope 2 emissions, BPCL is strategically charting a roadmap towards a sustainable and green energy transition.

This forward-looking plan leverages cutting-edge technology and innovation, with a primary focus on reducing our carbon footprint and embracing the evolving landscape of energy to become an integrated energy company. BPCL will be spending Rs.1.5 lakh crore in the next five years for “Project Aspire”, a strategy that focuses on refining, marketing and upstream, gas, non-fuel retailing, petrochemicals, green energy businesses, and digital ventures.

G. Krishnakumar, Chairman and Managing Director of Bharat Petroleum, tells India Energy Week News about its core purpose and mission to become a global integrated energy company leveraging talent, innovation and technology for the country’s future.

How do you view the Indian and global energy market in 2024 and how are you focusing on the energy transition?

Demand for oil and natural gas in India is expected to increase by nearly 70% between 2022 and 2050, while oil demand is expected to increase from 223 MMT in 2022 levels to 300 - 330 MMT by 2030. With India being a net importer of energy, affordability, security and access must be the focus. In this complex environment, BPCL needs to continue to consolidate and strengthen the core business, expand further downstream into petrochemicals, accelerate the adoption of viable green technologies and prepare its workforce for the future. 

There are several key components to BPCL’s clean energy transition plan over the next five years. Rapid expansion in green renewable energy capacity is underway, with BPCL’s five solar projects and two wind projects, and plans to establish 5 GW of green renewable energy capacity by 2028. BPCL will set up a green hydrogen plant of 5 MW at Bina Refinery and an integrated hydrogen re-fueling station of 500 KW capacity at CIAL. 

As for biofuels, BPCL is set to commission a 1G ethanol plant and a 2G ethanol plant at Bargarh, with a capacity of 100 KL/day respectively. The company also plans to achieve 20% ethanol blending by ESY 25-26, 5% biodiesel blending by 2030, and set up 26 compressed bio gas (CBG) plants over the next three years.

How important is it for your company to be at India Energy Week? Are you planning to launch any new services or products?

BPCL is supporting India Energy Week as a Partner Sponsor.

This event, with its expansive reach, offers us a unique platform to engage with international and domestic delegates, fostering discussions on future business opportunities and collaborations. The BPCL Pavilion, themed “Leading the Change,” not only highlights our core activities as a fully integrated energy conglomerate but also showcases our vision for a sustainable and innovative energy future. During the event, we have plans to launch several initiatives, which are aligned with our dedication to providing innovative solutions for a greener and more sustainable energy landscape.