BPCL to invest Rs 1 lakh cr to be future-ready

The investment will help BPCL prepare for the future where conventional fuels and zero-carbon mobility in form of electric vehicles (EVs) and hydrogen will co-exist, while giving it the option to convert a greater degree of crude oil directly into high-value petrochemicals.

India’s second-largest fuel retailer is looking to create a 1,000 MW portfolio of renewable power generation capacity, mostly through acquisitions while also invest in biofuels and hydrogen, he said.“In the years to come, BPCL has made aggressive investment plans. We shall be investing more than Rs 1 lakh crores at the group level majorly in enhancing petrochemical capacity and improving refining efficiencies (Rs 30,000 crore), gas proliferation (Rs 20,000 crore), upstream oil and gas exploration and production (Rs 18,000 crore) and augmenting (fuel) marketing infrastructure (Rs 18,000 crore),” he said.