New Delhi, May 2 (IANS) Minister of Petroleum and Natural Gas, Hardeep Singh Puri, on Friday lauded the performance of Bharat Petroleum Corporation Ltd (BPCL), as the government-owned oil major has achieved its highest-ever refinery throughput of 40.5 million metric tonnes with 115 per cent capacity utilisation and made a net profit of Rs 13,275 crore for 2024-25.
The minister held a meeting with BPCL chairman and managing director Sanjay Khanna to review the performance of the Maharatna oil PSU. Khanna holds the additional charge as CMD of the company.
“During 2024-25, the company has achieved highest ever market sales of 52.4 MMT beating earlier record of 51.0 MMT, highest ever refinery throughput 40.5 MMT with 115 per cent capacity utilisation, Highest capex of Rs 17,000 crore, outstanding gross refining margin 6.82 $/bbl and Rs 13,275 crore profit after tax,” the minister posted on X.
He further stated that BPCL has commissioned a 5 MW GH2 at Bina refinery in just 15 months, setting a benchmark for rapid and cost-effective execution. This initiative forms a core part of BPCL’s strategy to achieve Net Zero for Scope 1 and Scope 2 emissions by 2040 to contribute towards India’s green energy transition.
The public sector oil companies are also helping the government to raise more resources for development and social welfare schemes by absorbing the recent hike in excise duty on petrol and diesel, which has not been passed on to consumers.
The government-owned oil marketing companies will absorb the increase in excise duty on petrol and diesel, announced by the Finance Ministry, as their input costs have come down due to the decline in crude oil prices in the global market, Puri said recently.
Puri emphasised that the government is mindful of market volatility and the need to balance the financial health of the oil marketing companies with consumer interests. He noted that with crude oil prices hovering around $60 per barrel, there could even be potential for future price cuts of fuels if global trends remain favourable.
–IANS
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