Bharat Petroleum Corporation Limited
Investor Presentation
February 2021
1 Disclaimer 2
No information contained herein has been verified for truthfulness completeness, accuracy, reliability or otherwise whatsoever by anyone. While the Company will use reasonable efforts to provide reliable information through this presentation, no representation or warranty (express or implied) of any nature is made nor is any responsibility or liability of any kind accepted by the Company or its directors or employees, with respect to the truthfulness, completeness, accuracy or reliability or otherwise whatsoever of any information, projection, representation or warranty (expressed or implied) or omissions in this presentation. Neither the Company nor anyone else accepts any liability whatsoever for any loss, howsoever, arising from use or reliance on this presentation or its contents or otherwise arising in connection therewith.
This presentation may not be used, reproduced, copied, published, distributed, shared, transmitted or disseminated in any manner. This presentation is for information purposes only and does not constitute an offer, invitation, solicitation or advertisement in any jurisdiction with respect to the purchase or sale of any security of BPCL and no part or all of it shall form the basis of or be relied upon in connection with any contract, investment decision or commitment whatsoever.
The information in this presentation is subject to change without notice, its accuracy is not guaranteed, it may be incomplete or condensed and it may not contain all material information concerning the Company. We do not have any obligation to, and do not intend to, update or otherwise revise any statements reflecting circumstances arising after the date of this presentation or to reflect the occurrence of underlying events, even if the underlying assumptions do not come to fruition.
2 Table of Contents
1 2 3
Corporate Overview Business Overview Industry Overview Page 4 Page 9 Page 29
3 1. Corporate Overview
4 Introduction
India’s 2nd largest Oil Marketing Company 2nd (OMC) with standalone domestic sales volume of 309 Ranking on Fortune 500- 2020 global list over 43.10 MMT and Market share of 22% during FY20
3rd India’s 3rd largest in terms of Refining Capacity 44th Rank on Platt’s Top 250 Global Energy (15.33 % of India’s refining capacity) 44 Company Rankings 2019
1.2 BPCL’s Market Capitalization recently touched ₹ 6th India’s 6th largest company by turnover Lakh 1.2 Lakh Cr Cr
Recipient of Oil The Govt. of India conferred BPCL with Balanced portfolio with Strategically located Marketing - Company of the “MAHARATNA” status in Sep 2017 Refineries and Marketing Infrastructure Year in 2019 by FIPI
5 BPCL 5 Year Key Physical Indicators
REFINING CAPACITY MARKET SALES (MMT) Market Capitalization (MMT) (INR billion)
38.30 38.30 38.30 43.07 43.10 939.79 927.25 36.50 833.65 826.70 41.21 30.50 685.05
37.68 36.53
FY17 FY18 FY19 FY20 Q3FY21 FY16 FY17 FY18 FY19 FY20 FY17 FY18 FY19 FY20 Q3 FY21
Entire throughput/capacity of Bina Refinery & NRL have been Market Capitalization figures as on period end considered
India’s Leading Oil and Gas Company with presence across the Hydrocarbon Value Chain
6 BPCL Evolution 7 GoI acquired Burmah Shell BPCL and GAIL BPCL entered the LNG Entered into Kochi Refinery CCR1 unit at Formation of Bharat Gas Refineries. Name changed formed a JV, IGL, for market by signing a upstream business capacity Mumbai Resources Limited for focus to BPCL in 1977 distribution of Natural gas sales purchase and formed Bharat enhanced Refinery on Gas business Gas in entire capital agreement with Petro Resources to 9.5 MMTPA commissioned region Petronet LNG Limited (BPRL) in March 2014 Bina capacity enhanced to 7.8 MMTPA
conferred with “MAHARATNA” status in Sep 2017 KR modernized and capacity 2009 enhanced to 15.5 MMTPA BPCL Evolution 2008 2006 2005 2003 Acquisition of upstream 2002 1976 1998 assets in Russia Integrated Refinery Expansion Project (IREP) at Kochi Started operations at its Bina Refrigerated LPG storage and refinery by launching its crude Commissioned Energy Efficient handling facility at distillation unit CDU IV with replacement of CDU I JNPT and Uran Restructured business into Mumbai Refinery Commissioning of & II at Mumbai Refinery First in the Indian Oil LPG plant corporate centre, Strategic capacity enhanced to Euro III / IV products launched 6 MMTPA Commissioned Kota Jobner Industry to roll out commissioned Business Units (SBU) and 12 MMTPA at Mumbai and Kochi Refinery Bina Refinery Pipeline and Terminal Shared Entities ERP Solution
7 Major Subsidiaries, JVs & Associates
Subsidiaries Joint Ventures & Associates
City Gas Aviation Upstream Refining Refining Pipelines Trading Activities Distribution Services 63.38% 100.00% 61.65% 50.00% 25.00% 22.50% 50.00% 50.00% Kochi Salem Bharat Stars Ratnagiri Refinery & Indraprastha Gas Matrix Bharat Pte Pipeline Pvt. Services Pvt Petrochemicals Limited Limited Limited Limited Limited
25.00% 11.00% 37.00% Bharat Bharat Oman Numaligarh PetroResources Central UP Gas Delhi Aviation Fuel Refineries Limited Refinery Limited GSPL India Transco LNG Limited Limited Facility (P) Limited
12.50% 22.50% 11.00% 16.20% Kannur Maharashtra Petronet LNG Gas GSPL India Gasnet International Airport Natural Gas Limited Limited Ltd. 100.00% 49.94% 25.00% 25.00% Bharat Gas Mumbai Aviation Resources Limited Sabarmati Gas IHB Pvt. Ltd. Others Fuel Facility (P) Limited Limited
50.00% 74.00% 20.73% BPCL-KIAL Fuel Haridwar Natural Farm Facility Pvt. Gas Private Limited Ltd. FINO Paytech Ltd
50.00%
Goa Natural Gas Pvt. Ltd. 8 2. Business Overview
9 Asset Portfolio
Refining Upstream 8 Countries 24 Blocks 20+ Global Partners Total, ENI, ONGC, Rosneft, Mitsui, OIL, Presence Russia, Brazil, Mozambique, UAE, 26 Exploration
E&P Indonesia, Australia, Israel, India Discoveries Japan Energy, ADNOC, Petrobras etc. Upstream
Refining 4 Refineries 38.30 MMT 937 km SBM Infrastructure Strategically located Refining Capacity Vadinar-Bina Crude oil pipeline at Vadinar and Kochi
Refining 100% BORL & NRL considered
Midstream & & Midstream Downstream
Marketing 79 Retail 54 LPG 58 Aviation 4 Lube 37 Geographical Infrastructure Depots Bottling Plants Service Stations blending plants Areas incl. JVs Storage
Pipeline 2241 Km Specific & Multi17.84 MMTPA Design Network capacity of Pipeline Network Distribution Product Pipeline Network
Distribution ~17,841 Retail Outlets ~6,139 LPG Distributors Network Marketing
STRATEGIC BUSINESS ENTITIES (Support 7 23 EMPLOYEES 9,398 10 UNITS Functions) *Numbers in the slide are for period ending 31st December 2020. Diversified Product Offering and Presence Across Value Chain Industrial/ RefineryAviation Retail LPG Aviation Lubricants Gas Commercial
Refining capacity of 28.45% market 26.00% market Currently 8,000+ 22.73% market 23.57% market 50+ major LNG 38.3 MMTPA share1 share1 customers share1 in ATF share1 customers 15% of the country’s ~17,841 retail outlets Currently over 58 Aviation service Currently 18,000+ refining capacity2 79 depots 6139 distributors stations customers /installations 58 LPG bottling More than 400+ plants grades of products
Strategically Pan India presence Various Innovative Reliable, Present at all the Major OEM tie ups Emerging Markets located refineries across products offerings with innovative and major gateways such as Tata ventures in allied caring supplier of and airports for into Motors, Honda, business I&C products plane services Genuine Oil, TVS etc.
100% subsidiary Four refineries in Pioneer in branded Current Domestic Pioneer in IT Fuel Farm Product BGRL for focus on Mumbai, Kochi, retail outlets, customer base 8.41 integration and Operations through customization Gas business Numaligarh and branded fuels ex: Crores Supply Chain MAFFFL and Interest in 37 GAs Bina Speed Management DAFFL
1.Market share includes sale by PSU as well as private oil marketing companies. For Lubricants it represents on PSUs share. All figures as of 31st Dec 2020. 11 2.Source : Ministry of Petroleum and Natural Gas, PPAC Refining Coverage
Installed Capacity Refining Throughput
Refining Capacity 45.00 36.76* 40.00 38.29* Mumbai – 12 34.70* BORL 4.00 MMTPA 35.00 29.84* 31.25* 2.85 NRL 3.35 2.90 2.38 30.00 3.18 2.81 3.20 2.68 25.00 2.52 Kochi – 15.5 14.78 15.14 14.29 MMTPA 20.00 13.41 13.60 15.00 BORL – 7.8 10.00 16.77 MMTPA 14.25 16.23 5.00 10.71 11.79 Mumbai 0.00 Refinery Numaligarh – 3 FY16 FY17 FY18 FY19 FY20 MMTPA Kochi Mumbai Numaligarh Bina Kochi Refinery * Bina Refinery throughput is considered proportionately because it’s a 50:50 JV. From 31st March 2020, on account of conversion of share warrants issued by BORL into equity shares, BPCLs paid up share capital in BORL has increased from 50% to 63.38%
Refinery Utilization rates 937-km cross country Four Strategically located Refineries are BS VI & IMO Flexibility to process low & above name-plate pipeline to source crude to refineries across India Compliant high sulphur Crude capacities BORL
12 Mumbai Refinery- MR
.Commissioned in 1955 with processing capacity of 2.2 MMTPA now augmented to 12 MMTPA.
.Flexibility to process low & high sulphur Crude, consistently, refining throughput exceeds designed capacity
.Connected with MMBPL multi product pipeline from Mumbai to Delhi designed to evacuate 6 MMTPA of petroleum products • 12 MMTPA Capacity
• Processed ~94 types of crudes .Lowest SOX emission refinery of country (< 10 T/d)
• API Range: 37 to 39.8 .Ongoing Projects- Marine Oil Terminal Revamp, Lubricating Oil • Lubes refinery Base Stock Revamp, Reformer Feed Unit Revamp, Kerosene Hydro Treating Unit • Hydrocracker & 2 FCCUs
.Commissioned new Jetty (JD-5), can receive crude from SuezMax MR is one of the most versatile refineries in India with state of the art monitoring tools covering entire functions of refinery
13 Kochi Refinery- KR
.Started its journey in 1966 with capacity of 50,000 bbl per day and currently largest PSU Refinery
.Equipped to receive crude oil in Very Large Crude Carriers (VLCCs) with SPM (Single Point Mooring)
.A 300 km long pipeline connects the refinery to various • 15.5 MMTPA Capacity consumption points in Tamil Nadu
• Processed ~95 types of crudes .Ability to swing between MS & HSD based on demand • API Range: 31.8 to 37.4
• Petrochemical FCCU & FCCU .Ongoing Projects- PDPP and POPP (Niche Petrochemical Products), MSBP (MS production enhancement) • Delayed Coker unit for bottom upgradation
KR to meet fuel demand of the Indian Market and create synergy for diversification into petrochemical products
14 BORL
.Bharat Oman Refineries Limited (BORL) – BPCL Interest 63.38% with 7.8 MMT Refining capacity at BINA
.State of art technologies - High Nelson Complexity Index 11.58
.Associated Facilities – SPM, Crude Oil Terminal, 937-km cross • Processed 19 types of crudes country crude oil pipeline from Vadinar to Bina (VBPL)
• API Range: 28 to 40 .Bina Kota Pipeline for evacuation of products • Hydrocracker
• Delayed Coker unit for bottom .Low cost capacity expansion from 6 MMTPA to 7.8 MMTPA upgradation .GRM of $2.4/bbl during Q3 FY 21
Bina refinery to consolidate refining portfolio required to support downstream retailing market in Northern and Central India
Expansion Plans .Capacity expansion from 3 to 9 MMTPA .Total Project Cost of Rs.22,594 crores .Integrated with an 8 MMTPA 1,398 km crude pipeline from Paradeep to Numaligarh • Numaligarh Refineries Limited (NRL) .Integrated with a 6 MMTPA 650 km product pipeline from Numaligarh – BPCL Interest 61.65% with 3 MMT to Siliguri Refining capacity in the north- eastern state of Assam Other Projects • Largest producer of paraffin wax in .Diesel Hydro-treater Project with capex of Rs.1031 crores completed the country in Jan 2018 • GRM of $37.76/bbl during Q3 FY21 .Bio-refinery through JV planned at a cost of Rs.1,259 crores at (including ED Benefit) Numaligarh .129.5 km India Bangladesh Product Pipeline at a cost of Rs.346 crores including Government Grant-in-Aid of Rs.285 crores
Numaligarh refinery to consolidate refining portfolio required to support downstream retailing market in North-eastern India
16 Marketing Operations and Efficiencies
LPG Bottling Capacity (TMTPA) SBU Market Sales (MMT)
5000 4212 4590 3957 4000 3687 45.00 36.53 37.68 41.21 43.07 43.10 3363 40.00 3000 35.00 2000
30.00 27.30 26.97 1000 26.60 25.00 25.38 25.25 0 20.00 FY16 FY17 FY18 FY19 FY20 0.30 15.00 0.32 0.24 0.29 7.05 6.95 Thru’put per Outlet BPC Vs. Industry 10.00 0.32 6.51 4.67 5.14 1.79 1.99 2.01 (KL/month) 5.00 1.55 1.28 6.87 4.87 5.45 5.99 6.49 140 - Apr-Dec 20 FY16 FY17 FY18 FY19 FY20 135 134 LPG Aviation Direct Lubes Retail 130 125 Retail Market Share MS & HSD* 125 122 120 120 . MS - 28.47% 115 . HSD- 28.91% 110 *Market share is PSU Market share on Apr-Dec 20 BPC IOC HPC Industry Leading Player with a Diversified product portfolio and a well-established Marketing and Distribution network
17 Ongoing Projects
Kochi Refinery – MS Block Project for BS VI grade gasoline and Maximization of Naptha to Retail Infrastructure: POL Terminal gasoline (₹ 32.89 Bn) with Railway Siding at Pune, Gulbarga, & Coastal terminal at Krishnapatnam (₹ 10.69 Bn) LPG import terminal at Haldia, West Bengal (₹ 10.98 Bn) Bina Kanpur Product Pipeline & other pipelines (₹ 19.74 Bn)
Kochi – Diversification into Niche Petrochemicals PDPP Project- Acrylic 2G ethanol refinery at Bargarh Acid, Oxoalcohol, Acrylates Odisha (₹ 52.46 Bn) (₹ 16.07 Bn)
18 Upcoming Projects
Investments in Mozambique – FID sanctioned. Project Financing agreement signed. UPSTREAM BPCL has been awarded 11 GAs in 9th round and 2 GAs in 10th round of bidding INVESTMENTS IN GAS Expansion of marketing infrastructure across all business verticals including 2500 new retail outlets in the current year MARKETING INFRASTRUCTURE
PETROCHEMICALS Petrochemical Project(Polyols) at Kochi to manufacture Propylene Glycol, Ethylene Glycol, Polyol PIPELINES Cross country LPG pipeline from Kandla to Gorakhpur through a JV RASAYANI Marketing Infrastructure & other facilities at Rasayani near Mumbai
Capex outlay of INR 90.00 Bn for FY21 (Incl. investment in Subsidiaries/JVs)
19 BPCLCAPEX Evolution Strategy
120.00 109.93 110.64 90.00 0.29 1.08 1.80 2.31 100.00 11.51
9.83 50.04 80.00 3.65 49.52 12.00
60.00 INR Billion INR 15.69 36.85 40.00 16.97
7.95 20.00 41.52 29.84 19.72 - Actual - FY19 Actual - FY20 Budgeted - FY21
Refineries Petrochemicals Marketing Investments in Exploration Investments in Gas Others
Significant Expansion in Upstream and Downstream business to drive future growth
20 Financial Performance
Net Worth (INR Billion) PROFIT AFTER TAX (INR Billion) CAPITAL EMPLOYED
367.38 80.39 341.31 79.76 332.14 450 426 900 71.32 296.68 400 367 773 800 341 350 332 700 297 648 300 580 600 250 240 500 446
200 400 INR BN INR 184 BN INR 150 178 300 21.85 100 200 50 100 - 0 FY17 FY18 FY19 FY20 FY17 FY18 FY19 FY 20 FY17 FY18 FY19 FY20 Networth Adjusted Borrowing Capital Employed
Financial Ratios FY18 FY19 FY 20 Q3 FY 21 Total Debt-Equity 0.68 0.79 1.26 0.60 Profit After Tax as % of Total Equity * 25 20.1 7.7 39.53 Basic Earnings per Share (Rs.) 40.55 36.26 13.64 14.12 * Quarterly Data Annualized
21 Stable Earnings and Sound Financial Leverage driving Credit Strength BPCL R&D Innovative Solutions
130 Operational Excellence • Crude oil evaluation • Advanced analytical support Patents • Modeling & Simulation • Optimal catalyst selection • Corrosion & fouling • Solar Energy 65 Cost efficient and • K Model • Ecochem: ethanol corrosion inhibitor 70 Innovative Products • BPMARRK® • HiCAT: dewaxing catalyst • WDP • GSR CAT: Sulfur reduction catalyst • BMCG 2nd GEN • 65 42 High performance LPG burner
28 Process Design / Process • Divided Wall Column • Low grade energy utilization Intensification • HiGee Separations • Delayed coking Filed Granted • Cross flow reactor • H2 separation through membrane Indian Foreign Polymers & Over 200 • SAP / Agri-SAP • Novel catalysts Petrochemicals • Polyols • Biphenyl process Research Articles • Methacrylic acid
5 • Bioremediation • Book Chapters Bio-fuels / Efficient cellulose enzyme complex Environment • Bio-ethanol process • Waste plastic road • Bio-butanol process • Refinery sludge valorization
22 Gas Business
Supply • LNG supply security: • Long term tie ups of 0.85 MMTPA valid till 2028 at Dahej • 0.56 MMTPA valid till 2036 at Kochi • 2 more GAs rewarded in FY19 • 1 MMTPA LNG tied up from Mozambique starting 2024 for in the 10th Round 15 years. • Also, Short Term /Spot volumes ranging from 0.80 to 1.0 MMTPA 2019 are tied up based on demand. • Formation of Wholly owned subsidiary- BGRL for better focus on gas business City Gas Distribution • Bagged 11 GAs in 9th Round • 37 Geographical Areas (GAs) which it operates either as 2018 wholly-owned or through JVs with other companies. • Foray into Bulk Gas Marketing with • CNG commissioned in Rohtak District and CNG & PNG Commissioning of PLL’s LNG Terminal at commissioned in Rupnagar District Dahej (GJ). Upcoming Project 2004 • Entry into Gas business through IGL (JV of GAIL & • Liquefied-CNG Pilot Project being undertaken at BPCL) • Aurangabad, Maharashtra (commissioning by Entered JV to form Petronet LNG February, 2021) 1998
23 BPCLBPRL’s Evolution Upstream Story over the years… Story over the years…….
2019 2018
2017
2016 Overseas Onshore 2013 Operatorship Entry in Lower – Abu Dhabi Zakum 2012 Declaration of Commerciality Russian approved in Acquisition Operatorship 2010 Schedule B block
Lead operator 2009
Shale gas entry Australia
Indonesia 2008 entry
Brazil & Mozambique acquisition 2006 Formation of BPRL
Formation of E&P 2003 setup in BPCL
24 Upstream - Global Spread 2 TYNGD Russia 2 Vankorneft
4 Cauvery Basin* 3 Rajasthan Basin India 3 Cambay Basin** 2 Assam-Arakan 2 Mumbai Basin
Indonesia 1 Nunukan
Production 1 Lower Zakum UAE Development 1 Onshore 1 Exploration / Appraisal Mozambique 1 Area 1 * 1 block in in Cauvery Basin is in Production, the rest are in Exploration / Development ** 2 blocks in Cambay Basin in in 2 BM-SEAL-11 Australia 1 EP413 Development, the rest is in Exploration Brazil 1 BM-C-30 2 BM-POT-16
25 BPCL pursues its Upstream Business through its wholly owned Subsidiary Company – Bharat PetroResources Limited Global Upstream Footprint Partnership with established Oil and Gas operators expected to generate optimal returns for BPCL.
Within India Brazil Australia BPCL Other BPCL Other Block Operator Block Operator BPCL Other Stake Partners Stake1 Partners Block Operator Stake Partners NELP—IV BM-SEAL-11 Petrobras 20.0% Videocon CY/ONN/2002/2 ONGC 40.0% ONGC (2 blocks) EP-413 Norwest 27.8% AWE Perth Pty Limited NELP—VI BM-C-30 Videocon, BP 17.85% CY/ONN/2004/2 ONGC 20.0% ONGC (1 block) Total NELP—VII BM-POT-16 Videocon, RJ/ONN/2005/1 HOEC, BPRL 33.33% IMC Petrobras 10.0% (2 blocks) Petrogal, BP NELP—IX GAIL, EIL, BIFL, Mozambique Russia CB/ONN/2010/11 25.0% BPRL MIEL BPCL Other BPCL Block Operator Block Operator Partners AA/ONN/2010/3 OIL 20.0% ONGC Stake Partners Stake2 BPRL, EIL, BIFL, PTTEP, Rosneft, CB-ONN-2010/8 25.0% Vankorneft 7.887 GAIL MIEL Mitsui and Vankorneft OIL, IOCL, (2 licenses) % Mozambique Co., ENH, ONGC DSF Total 10.0% Rovuma Basin OVRL, CY/ONDSF/KARAIKAL/2 BPRL 100% - TYNGD 9.867 Rosneft, BP, 016 BREML TYNGD (2 licenses) % OIL, IOCL RJ/ONDSF/BAKHRI (OVL+OIL) BPRL 100% - United Arab Emirates TIBBA/2016 BPCL MB/OSDSF/B15/2016 BPRL 100% - Block Operator Other Partners Stake3 Indonesia MB/OSDSF/B127E/2016 BPRL 100% - BPCL Other CNPC, INPEX, ENI, Exploration Block Operator RJ/ONDSF/SADEWALA/ Lower Zakum ADNOC 3% Stake Partners BPRL 100% - Total 2016 Nunukan PSC Pertamina 12.5% Videocon Urja OALP Onshore 1 50% Bharat CB-ONHP-2017/9 BPRL 60% - CY-ONHP-2017/1 ONGC 40% - 1. BPCL’s effective stake held through 50:50 JV with Videocon. AA-ONHP-2017/12 OIL 10% - 2. BPCL’s effective stake held through SPV with OIL & IOCL 26 3. BPCL’s effective stake in Lower Zakum held through SPV with ONGC 26 Videsh & IOCL and in Onshore 1 through SPV with IOCL BPCL’s Strategic Vision
Go-GDP Approach to Excellence
GO GLOBAL GO GREEN GO DIGITAL GO PETCHEM
•Expanding global •EV Charging solution •Digitalization of •Mfg. niche petchem footprints in Lubes, •Biogas generation refineries through products as import Retailing, aviation, from waste AR/VR,AI substitutes bunkering, trading, •Solar & Wind Energy •Digitally driven •Expanding Consulting Services for captive power unified customer petrochemicals •Export Lubes to 25+ (10% energy experience to drive portfolio further countries by 2025 requirement) cross/upsell
LEVERAGING TECHNOLOGY INFRASTRUCTURE PEOPLE SAFETY & SERVICE
27 Awards & Recognition
Among top 20 Global Oil and Gas refining and marketing Cos .BS VI & IMO Compliant Refinery Oil Marketing - Company of the Year 2019 .Flexibility to process low & high sulphur Crude Sustainability Award for the Best Green Product Petrochemical sector 2019 .Consistently, refining throughput exceeds designed capacity Winner under Process Innovation Leadership Awards - Frost & Sullivan PERP 2019 .Ongoing Projects- PDPP, MSBP, Polyols, HTPL Digital PSU Award at the 7th PSU awards- Governance Now .GRM of $5.6/bbl during FY 20 and $9.8/bbl during FY19 Integrated Refinery Expansion Project – the Top Refining Project of the Year 2019- Hydrocarbon Processing journal. Thank you!
1. PRSI: Public Relations Society of India 2. Federation of Indian Petroleum Industry- *Best Project Management Company 2018* 3. Golden Peacock (Institute of Directors) awarded BPCL *Excellent Corporate Governance 2018*
28 3. Industry Overview IndiaBPCL Evolution– Attractive Industry Dynamics Significant potential for domestic O&G companies given low per-capita oil consumption and growing demand.
Oil: Consumption in thousands Indian Oil Demand of barrels per day* Million Tonnes
1449 83.5 Singapore 1419 FY19 28.3 13525 24.9 China 12840 81.1 1094 Australia FY18 26.2 1055 23.3 200 UK 207 76.0 2321 FY17 23.8 Germany 2443 21.5 3081 Brazil 3052 74.6 FY16 21.8 20456 US 19.0 19958 5156 India 69.3 4870 FY15 19.1 0 5000 10000 15000 20000 17.6
2018 2017 Diesel Petrol LPG
Source: BP Statistical Review of World Energy 2019 Source: PPAC
30 BPCLIndian EvolutionOil Industry
Positive Policy actions
• Petrol Prices De-regulated completely
• Gasoil (Retail) – Deregulation announced effective 19th October 2014
• Gasoil – Bulk sales completely deregulated since January 2013
• Restricted supply/Targeted subsidies for cooking fuel products
• LPG DBTL scheme - Domestic LPG fully enrolled
• SKO PDS DBTK scheme – launched on pilot basis in 4 districts and now implemented in the state of Jharkhand
• Govt. has consistently compensated OMCs including BPCL for under recoveries and ensured reasonable profitability
31 Strategic position in the Indian economy with way to deregulation of fuel sector in the country BPCL Evolution
Thank You
32