BPCL has raised $600 million by selling 10-year dollar bonds to investors in Asia and Europe. BPCLÂ’s Singapore arm BPRL International Singapore Pte Ltd raised the money at 200 basis points above the 10-year US treasury which came to around 4.375per cent. The bond was raised at a rate which is among the best in 10 years. This issue is also expected to open the door for more Indian companies to raise money.
Under the governmentÂ´s Skill India mission, oil PSUs have initiated skill development initiatives for unemployed youth. Oil PSU members, viz., HPCL, IOCL, BPCL, ONGC, OIL, GAIL, EIL and Balmer Lawrie have come together to set up a Skill Development Institute in Visakhapatnam (SDI-Vskp).
The Maharastra State Road Transport Corporation (MSRTC) has complained to state Legal Metrology Department (LMD), accusing HPCL, BPCL and IOC of Â´short deliveryÂ´. Chief Vigilance Officer (CVO) of MSRTC Vineet Agrawal said a complaint was lodged with LMD on September 19.
Two years after Oil and Natural Gas Corporation (ONGC), with its consortium partners Bharat Petroleum Corporation Limited (BPCL) and Japanese conglomerate Mitsui, signed a memorandum of understanding (MoU) to set up a regasification liquefied natural gas (LNG) terminal at New Mangalore Port, the project is again on the back burner.
With government taking initiative to de-bottleneck the energy sector growth and boost countryÂ´s economy, oil and gas majors are busy addressing risk factors and multitasking to integrate their business model in order to ensure future growth, says Pradeep Pandey.
Union Minister for Petroleum and Natural Gas M Veerappa Moily has stated that work on the new LNG import terminal at Mangalore will begin in next November. A feasibility study on the terminal is being carried out by a consortium of ONGC, BPCL, Mitsui and New Mangalore Port Trust (NMPT). The planned LNG terminal is with a capacity of 2-3 million tonne per annum.