Bharat Petroleum Corporation Limited (BPCL) has announced that it is accelerating its focus in new business segments for sustainable growth, thereby mitigating risk in oil & gas space. According to a statement, BPCL is exploring opportunities in biofuels, petchem, gas, electric mobility, consumer retail and digital transformation.
“In the years to come, BPCL has made aggressive investment plans. We shall be investing more than Rs. 1 lakh crores at the group level majorly in enhancing petrochemical capacity and improving refining efficiencies (Rs. 30,000 crore), gas proliferation (Rs. 20,000 crore), upstream oil and gas exploration and production (Rs. 18,000 crore) and augmenting (fuel) marketing infrastructure (Rs. 18,000 crore),” said, Mr. Arun Kumar Singh, Chairman and Managing Director, BPCL.
“The investment will help BPCL prepare for the future where conventional fuels and zero-carbon mobility in form of electric vehicles (EVs) and hydrogen will co-exist, while giving it the option to convert a greater degree of crude oil directly into high-value petrochemicals,” he added.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.