BPCL to spend up to ₹36,000 cr on capital expenditure till FY26
To focus on refineries, marketing, petrochem and green energy
State-run Bharat Petroleum Corporation (BPCL) will spend up to ₹36,000 crore on capital expenditure (capex) in the two financial years ending FY26, with major spends focussed on refineries, marketing and petrochemicals.
The state-run oil marketing company (OMC) will incur a capex of ₹15,00016,000 crore in the current financial year and ₹16,00020,000 crore in FY26.
This is part of the Maharatna company’s Project Aspire, under which it will invest ₹1.7-lakh crore till FY29 to increase refining capacity to 45 million tonnes per annum (mtpa) and add 4,000 new fuel stations, among others.
“For FY25, our capex will
The capex spend is part of Project Aspire, under which the Maharatna PSU will invest ₹1.7-lakh crore till FY29
be around ₹15,000-16,000 crore. Major amount, around ₹4,200 crore, will go for refinery and petrochemicals. For marketing, we are going to allocate around ₹7,000 crore for various projects, including the CGD. BPRL, we plan to infuse ₹2,000-2,500 crore equity in FY25. In FY26, the capex will
be around ₹16,000-20,000 crore range,” BPCL top management said in an investor call.
The company will also invest ₹20,000 crore on its marketing business, and ₹32,000 crore to enhance upstream production with focus mainly on projects in Mozambique and Brazil. The investments in these two countries will depend on developments on ground.
GREEN INITIATIVES
It will invest ₹25,000 crore on gas business and ₹10,000 crore setting up 10 gigawatt (GW) of renewable energy capacities.
Besides, the company will also expand its EV charging network to 7,000 EV charging stations by FY25. It has already added 2,443 new EV charging and battery swapping stations, taking its total to 3,135.
BPCL will set up 26 compressed biogas (CBG) plants in the near term. It also has plans to produce 30 kilo tonnes per annum (KTPA) of green hydrogen in its refineries by 2030 to meet 10 per cent of captive demand. A pilot green hydrogen refuelling station project is already under execution.