In the next three years Bharat Petroleum Corp (BPCL) plans on investing Rs 35,000 crore. The company plans to augment its refining capacity by a third, by expansion and up-gradation of existing refineries and also by investing in overseas exploration projects. Refinery expansion and up-gradation will account for 50 per cent of BPCL’s planned investment. BPCL plans to invest up to Rs 16,000 crore for its main project of integrated refinery expansion at Kochi, Kerala. The project involves increasing the refinery’s capacity from 9.5 million tonne per annum (tpa) to 15.5 million tpa. This will be accompanied by a two million tpa expansion of the Bina Refinery located in Madhya Pradesh. Apart from this, the company also plans on increasing its overall capacity from the current 27.5 million tpa to 35.5 million tpa. Upgrading all the refineries is necessary to produce fuel that conforms to Bharat Stage-IV and V emission norms. The upgradation plan is expected to be completed by 2019-20. The remaining investment will go into BPCL’s overseas exploration business in Mozambique, Brazil and Indonesia. In 2013-14, BPCL refined 28.69 million tpa of crude oil to produce petrol, diesel, kerosene, fuel oil etc.
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