India is the third largest consumer of crude oil after the US and China and imports around 84% of its total requirement of crude oil. Thus, the Indian socio-economic landscape is significantly impacted by the movements in international oil prices and exchange rates. With India’s projected economic growth continues to be high, in the next few years, increasing urbanization and improvement in standards of living, the demand for energy is expected to rise significantly. Bharat Petroleum is well positioned and has ambitious plans to enhance its share in the growing energy market and pursue expansion and diversification for value creation.
I am happy to share with you that BPCL has been ranked 275th in the Fortune Global 500 list of 2019, up from 314 in 2018. Earlier this year in January 2019, Hon’ble Prime Minister of India dedicated the expanded and modernized Kochi Refinery to the nation. With installed capacity of 15.5 MMTPA, Kochi Refinery is now the largest Public Sector Refinery in the country, exceeding its design capacity in the first full year of operation itself.
Established in 2006, Bharat Petro Resources Limited (BPRL), which is our fully owned subsidiary to cater to the upstream activities, has grown in size, magnitude and scale over the years. The company today has a balanced portfolio of assets along with operatorship position in India and overseas. BPRL now has Participating Interest in twenty six blocks, of which thirteen are located in India and thirteen overseas, along with equity stake in two Russian entities, holding the license to four producing blocks in Russia and access to equity oil from the Lower Zakum offshore field in the UAE.
BPRL has progressed towards monetization of the initial two train LNG project in Mozambique along with the concessionaires, bringing it a step closer towards becoming a strategic global LNG supplier.
Investment in Middle East
Bharat PetroResources Limited (BPRL), consequent to winning the Onshore Block 1 concession in Abu Dhabi, jointly with Indian Oil Corporation Limited, has assumed the Operatorship position in the international arena.
Relationship with Oman
Bharat Oman Refineries Limited (BORL), in Bina in Central India is a Joint Venture between Bharat Petroleum & Oman Oil Company, with both companies holding 50 percent each equity stake.
BORL has completed the bottlenecking process to enhance its current capacity from 6 MMTPA to 7.8 MMTPA and meeting BS-VI product quality specifications.
Oil & Gas Future in India
The oil and gas sector is poised for definitive transformation in response to significant technological developments, changes in the energy mix towards a low carbon future and demand-supply rebalancing. This comes with its fair share of opportunities and challenges.
The demand for energy will increase against the backdrop of high economic activity, particularly in emerging economies, with fossil fuels meeting most of the requirement. Though there is a significant proliferation of renewable energy and natural gas, oil and coal are expected to continue as major components of the energy basket in the foreseeable future.
Over the years, “MAK Lubricants” has gained a significant presence in the automotive and industrial segments. Expanding its horizons, MAK Lubricants is establishing itself as a reliable brand in international markets as well.
We have a wide range of products for both automotive as well as Industrial segments. MAK reaches out to core sectors like Coal, Power, Cement, Steel, Engineering, Construction and Infrastructure.
We produce, the Best-In-Class Group II + Base Oil, which is the main ingredient for the premium quality MAK Lubricants and uses world class additives to produce MAK lubricants. MAK has over 450 SKUs of top-of-line lubricants, greases and specialties offered in different pack sizes from 20 millilitres to 210 litres.
MAK also has tie-ups with major OEMs like Tata Motors, Hero, Honda, TVS, Kirloskar, Atlas Copco, Eicher and very recently with KIA Motors to name a few, for both co-branded as well as genuine oils.
MAK has established global presence in 12 countries and has ambitious plans to have footprints in many more countries. We export lubricants to South Asian countries like Nepal, Sri Lanka, Bangladesh and Bhutan, and to Myanmar, as well as, to South East Asian countries.
MAK is also a known brand in Middle East, with its entry in Bahrain, Kuwait, UAE and now we have launched MAK in Oman.
BPCL also export MAK lubricants to the African continent – to Tanzania, Congo, Burundi and Rwanda. Going forward in the years ahead, we have aggressive plans to consolidate and spread network in many more countries in the Middle East, ASEAN region and Africa.
Relationship with Eint Automotive
Eint Automotive LLC, a division of the highly successful W.J. Towell Group that specialises in Lubes and Batteries, is one of the most celebrated & trusted name in Oman Industries. We are very pleased to join hands with Eint Automotive LLC, whose expertise and network connect will position MAK brand very high In Oman.