Refiner-Retailer to hedge against the risk of auto fuel market loss
Bharat Petroleum Corporation Limited (BPCL), with more than 19,000 fuel stations-retail outlets across the country, is to set up electric vehicle (EV) charging infrastructure around its 7,000 petrol pumps over next few years, creating a new business opportunity as well as hedging against the risk of displacement of auto fuels.
“Over the next few years, we are aiming for 7,000 ‘Energy Stations’ to support the growing EV industry,” Arun Kumar Singh, Chairman & Managing Director, BPCL said in a release on 5 Nov 2021.
“EV charging infrastructure is one of the five focused segments that BPCL is working on along with Petchem, Gas, Consumer Retailing, Renewables & Biofuels to serve the energy needs of the nation,” Singh said.
The EV ecosystem in India is expected to experience a robust growth in the coming years in India as auto manufacturers turn to electric vehicles to attract new consumers.
Companies with a strong distribution network are expected to experience a robust growth in the coming years as the Indian auto manufacturers turn to electric vehicles to attract new consumers, said a BPCL release.
BPCL, the second largest oil marketing company (OMC), is a formidable player with nationwide network of fuel stations and distributors that can help in offering the EV charging facility in a short span of time compared to companies that are yet to build the physical infrastructure of retail outlets.
A Fortune Global 500 Company, Bharat Petroleum is the second largest Indian Oil Marketing Company and one of the premier integrated energy companies in India, engaged in 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. The company attained the coveted Maharatna status, joining the elite club of companies having greater operational and financial autonomy.
Bharat Petroleum’s Refineries at Mumbai and Kochi and subsidiary Bharat Oman Refineries Ltd at Bina have a combined refining capacity of around 35.3 MMTPA. Its marketing infrastructure includes a network of installations, depots, retail outlets, aviation service stations and LPG distributors. Its distribution network comprises over 19,000 Retail Outlets, over 6,100 LPG distributorships, 733 Lubes distributorships, 123 POL storage locations, 54 LPG Bottling Plants, 64 Aviation Service Stations, 4 Lube blending plants and 4 cross-country pipelines.
With a focus on sustainable solutions, the company is developing a vibrant ecosystem. Bharat Petroleum has been partnering communities by supporting innumerable initiatives connected primarily in the areas of education, water conservation, skill development, health, community development, capacity building and employee volunteering. With ‘Energising Lives’ as its core purpose, Bharat Petroleum’s vision is to be the most admired global energy company leveraging talent, innovation & technology. #manufacturing #investment #technology /fiinews.com
