Bharat Petroleum Success Story | How This Oil and Gas Producer Is Leading the Indian Economy?

Bharat Petroleum Success Story | How This Oil and Gas Producer Is Leading the Indian Economy?

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by Bharat Petroleum.

The most important global industry is the oil and gas industry as they use Earth's resources to generate their source of revenue. Oil and gas industries are among the six core industries in India. They play a crucial part in boosting India's economy. As a sector, it is the most growing sector and gives a wide range of scope for investors and promises a great deal.

This sector dates back to 1889 when oil was found in Digboi in the state of Assam. Around the 1960s, the oil and gas industries started picking up.

Read about Bharat Petroleum, one of India's leading oil and gas company's founders, how it started, its business model, revenue model, shareholders, competitors, challenges faced, and more in this article.

Bharat Petroleum - Company Highlights

Startup Name Bharat Petroleum
Headquarters Mumbai, Maharashtra, India
Sector Energy: Oil and Gas
Founder Government of India
Chairman Arun Kumar Singh
Founded 1952
Revenue $54.2 billion (FY22)

Bharat Petroleum - About and How Does It Work?
Bharat Petroleum - Industry
Bharat Petroleum - Founder and Chairman
Bharat Petroleum - Startup Story and Growth
Bharat Petroleum - Mission and Vision
Bharat Petroleum - Name, Logo, and Tagline
Bharat Petroleum - Business Model
Bharat Petroleum - Revenue Model
Bharat Petroleum - Shareholding
Bharat Petroleum - Competitors
Bharat Petroleum - Awards and Achievements
Bharat Petroleum - Advertisements and Campaigns
Bharat Petroleum - Mergers and Acquisitions
Bharat Petroleum - Challenges Faced
Bharat Petroleum - Future Plans

Bharat Petroleum - About and How Does It Work?

It was in 1889 during the British rule, when oil was first discovered in Digboi, Assam. Soon after, this discovery sparked the emergence of the oil and gas industry, and by 1960 the industry began to pick up.

Founded in 1976, Bharat Petroleum Corporation Limited (BPCL) is a Government of India owned company with three manufacturing plants situated in Bina, Kochi, and Mumbai.

Bharat Petroleum is all about exploring and producing oil and gas. As per reports in India, most of the petroleum sector is administered by Bharat Petroleum Corporation Ltd (BPCL). The Ministry of Petroleum and Natural Gas is in control of BPCL. The company is also the second-largest government-owned downstream oil company in India.

Refining and Marketing Activities, which encompasses the Downstream petroleum industry is the single segment in which the corporation works. They also work on hydrocarbon exploration and production (E&P).

Bharat Petroleum produces oil for motorists-fleet owners, aviation services, and other industries and commercial purposes. Besides this, the company is also involved in many CSR activities.

Bharat Petroleum - Industry

India is the third largest energy and oil consumer in the world after China and the USA. With the huge potential for growth in the oil and gas industry India aims to reduce oil and gas imports dependence by 10% by 2022.

It is one of India's leading integrated energy firms and is also a Fortune Global 500 company that refines crude oil and markets petroleum products. It has a major presence in both the upstream and downstream of the oil and gas industry. BPCL now enjoys the prestigious Maharatna designation.

How Does Fuel Pricing Affects all the Industries?
As the fuel prices in India are reaching sky high, let’s understand how different sectors are affected by it.

Bharat Petroleum - Founder and Chairman

Bharat Petroleum is a government-owned oil and gas company.

Shri Arun Kumar Singh is currently the Chairman and Managing Director at Bharat Petroleum Corporation Limited.

Bharat Petroleum Chairman and Managing Director - Arun Kumar Singh
Bharat Petroleum Chairman and Managing Director - Arun Kumar Singh

Arun Kumar Singh

Arun is a Mechanical Engineer who graduated from the National Institute of Technology, Patna. BPCL appointed Arun Kumar Singh as the Chairman and Managing Director in 2021. Arun has over 36 years of experience in the oil and gas industry. In these years, Arun has headed Business Units and Entities in BPCL, such as Retail, LPG, Pipelines, Supply Chain Optimization, etc.

He also played the role of President (Africa & Australia) in Bharat PetroResources Ltd., a wholly-owned subsidiary of BPCL, engaged in the exploration of Oil & Gas mainly overseas. He is also the Chairman of Indraprastha Gas Ltd and serves as the Director on the Board of Bharat Gas Resources Ltd.

Bharat Petroleum - Startup Story and Growth

The origins of Bharat Petroleum go back to 1928 when India was under British rule and had incorporated the Burmah Shell Oil Storage & Distribution Company in India.

The Britishers started to bring in petroleum products to India and grew the business rapidly. After achieving the leadership position in India Burmah Shell Oil Storage & Distribution Burmah Shell refineries set up a refinery in Mumbai that led to the incorporation of Burmahshell Refineries Limited (BSR). Under this operation, the refinery company introduced LGP as a cooking fuel for Indian homes.

Burmah Shell (now Bharat Petroleum) is responsible to unveil the first pump station in 1928. The addition of a sizable glass cylinder that was connected to the pump, which was retrofitted to existing pumps, allowed the client to see exactly how much fuel he was buying. The clock-style meter, which predominated on gas pumps in the early 1930s, later replaced the visible cylinder.

In those times, the company also offered lubricants that met the highest quality standards and were staffed by workers with specialised training and a state-of-the-art quality control lab. The lubricant was the largest and most modern in the East – at Wadi-Bandar (known as Wadilube installation).

Wadilube currently offers the whole spectrum of lubricants and blends 349 distinct lubricant grades into 841 SKUs.

Fast forward to 1976, the company name was changed to Bharat Refineries Limited (BRL). It was then the company that was taken over by the Government of India. Later after one year, the company was renamed Bharat Petroleum Corporation Limited.

Bharat Petroleum introduced the PetroBonus Program in 1999. It is the country's first pre-payment-cum-rewards programme for the oil industry, and it uses cutting-edge microprocessor-based smart cards that are simple to use.

Today, the company developed into the country's first modern refinery, representing the nation's industrial might and utilising the most recent technological improvements to enable digital transformation.

List of Companies supplying Oxygen in India
Many companies have came forward to supply oxygen as the rise of the second wave of Covid 19 in India has led to a an increased demand for oxygen.

Bharat Petroleum - Mission and Vision

The company's vision lies in seven core values, which are:

  • Trust
  • Customer Centricity
  • Development of People
  • Ethics
  • Innovation
  • Collaboration
  • Involvement

The company's mission is to offer services that ethically help the society and environment. It aims to grow as a great organisation on both professional and personal levels.

The company wants to establish sustainable development and be the change by transforming the existing crisis into unique strengths that will help build a better nation.

Their CSR vision reads, "Be a Model Corporate Entity with Social Responsibility committed to energizing lives through Sustainable Development”

What is Sustainability in Business and Why is it important for your business?
A sustainable business is a business that has minimal negative impact on environment. Lets understand the importance of sustainability in business.

Bharat Petroleum - Name, Logo, and Tagline

Bharat Petroleum - Logo and Tagline
Bharat Petroleum - Logo and Tagline

Bharat Petroleum used to be known as Bharat Refineries Limited (BRL) after the Government of India took over Burmahshell Refineries Limited (BSR) in 1978.

The logo of the company features a thick white circular outline inside a solid blue circle with a yellow "Yin and Yang" (meaning shade and sun) contained within it. While bringing lightness and balancing the dense and intense emblem, the white line kept the solidity and stability intact.

Bharat Petroleum boasts with its tagline, "energising lives"

Bharat Petroleum - Business Model

The company type is Public and is owned by the Government of India. The company's IPO was launched on Sep 29, 2000.

Its business mostly involves engaging in the following services:

Fuel and Services

It offers numerous product options, including premium fuel products like Speed and Speed 97, that ensure a superior driving experience for enthusiasts, along with gasoline, diesel, automotive LPG, and compressed natural gas. With the rising demands of the contemporary world, the company also offers exceptional and innovative services.

This covers specific Fuel Station formats such as Ghar, Highway Star, Pure for Sure, Smart Fleet, Petro Card, Smart Drive, Door-to-Door Fuel Kart, BPCL SBI Card, and other similar services that ensure a seamless customer experience.

MAK Lubricants

This is to deliver lubricants and greases in India and international markets. They offer a wide range of 400+ grades throughout numerous categories to meet the varied and constantly changing needs of the industrial sector and the automotive segment.

Aviation Services

Bharat Petroleum is in the charge of Aviation fuel business. It is involved in every step of the value chain, including the manufacturing of jet fuel at refineries, its transportation and storage, Intoplane services, fuel operating systems that adhere to international quality standards, and other value-added services.

Industrial and Commercial Business

Under this, the business model of the company is B2B with industrial and commercial oil and has a customer base across various industrial sectors like Cement, Heavy Industries, Power, Railways, Paints, Petrochemicals, and others.

Oil Refineries

It operates the following refineries:

  • Bina Refinery - This is located in Bina, Sagar district, Madhya Pradesh. The plant produces 7.8 million metric tonnes per year. This is a joint venture between Bharat Petroleum and Oman Oil Company known as the Bharat Oman Refineries Limited (BORL).
  • Kochi Refinery - It can produce 15.5 million metric tonnes annually and is located in Kochi, Kerela.
  • Mumbai Refinery - This refinery can produce 13 million tonnes per year.

International Trade

Bharat Petroleum also operates its business by undertaking the activities of the International Trade Department such as:

  • Crude Oil Import and Indigenous Procurement.
  • Chartering of crude and petroleum products including coastal movements.
  • Risk Management.
  • Petroleum Products – Imports/Exports and related operations.

Proficiency Testing

For the first time in the petroleum business, the brand is now organising Proficiency Test (PT) programmes to meet the demands of petroleum sector laboratories in India and neighbouring regions. The testing lab is situated in Mumbai and is successfully accredited by the NABL (National Accreditation Board for Testing and Calibration Laboratories), an independent authority under the Department of Science and Technology.

SAP Training

Bharat Petroleum is also engaged in providing SAP training. SAP is one of the leading software solutions which is a very demanding course currently. SAP solutions are required by almost all industries today. An initiative as the Bharat Petroleum SAP Training Center focuses to provide class training to aspiring SAP consultants.

Bharat Petroleum - Revenue Model

Bharat Petroleum Corporation Ltd. Revenue from March 18 to March 22
Bharat Petroleum Corporation Ltd. Revenue from March 18 to March 22

The company generates its revenue from its subsidiaries like Bharat PetroResources Ltd. (BPRL), Bharat Oman Refineries Limited (BORL), Bharat Gas Resources Limited (BGRL), Bharat Renewable Energy Limited (BREL), and more.

The company recorded a revenue of $54.2 billion (₹432,569 crores) in the year 21-22 compared to $38 billion (₹3,04,274 crores) in the year 2020-21.

The consolidated Net profit was recorded to be $1.4 billion (₹11,681 crores) during the same period.

Bharat Petroleum - Shareholding

The Promoter & Promoter Group (Government of India) owns 52.98% of shares in Bharat Petroleum. The shareholding of Public shareholders is 46.71% which includes Mutual funds, Foreign Portfolio Investors, Financial institutions/banks, and insurance companies. Non-Promoter-Non Public holds 0.32% and Shares held by Employee Trusts also stand at 0.32%.

Bharat Petroleum - Competitors

In India, many oil and gas industries give cut-throat competition for Bharat Petroleum. Some of the biggest competitors are as follows:

  • Reliance Industries
  • Oil and Natural Gas Corporation (ONGC)
  • Indian Oil Corporation Ltd. (IOCL)
  • Hindustan Petroleum Corporation Ltd. (HPCL)
  • Mangalore Refinery and Petrochemicals Limited (MRPL)
  • Oil India
  • Jindal Drilling
  • Asian Energy
  • Selan Expl. Tech
  • Aban Offshore
  • Duke Offshore

Marketing Strategy of Indian Oil Corporation Limited (IOCL)
Get an insider insight into the marketing strategies of Indian Oil Corporation Limited (IOCL) that makes it India’s most profitable govt. company.

Bharat Petroleum - Awards and Achievements

Some of the biggest awards in the petroleum industry have continuously gone to BPCL. The following is the list of awards and recognition that the company has received in these last few years are:


  • Dun & Bradstreet has awarded #BPCL the Top performer in the Oil - Refining & Marketing sector.
  • Business Performance in Cargo/Ship handling at Cochin Port" for 2021.
  • National Health Safety Security and Environment Award at Global Safety Summit 2022.
  • Award from Joint Secretary Refinery, for Implementing Best Energy Efficient Project.
  • PCRA confers Best EnergEfficiency Award for FY 2021, on BPCL’s LPG Bottling Plant in #Sultanpur.
  • BPCL and The Government of Odisha sign a five-year MOU for #GreenInitiatives.
  • Water Sustainability Award at the first Water Sustainability Awards 2021-22.
  • Global CSR Excellence and Leadership Award.


  • Certificate on Excellence in Sustainable EHS at the World Sustainability Congress.
  • The Sustainable Growing Corporate of the Year Award’ at FIPI Awards 2021.
  • The Energy & Environment Foundation recognises #BPCL with Global Platinum Award 2021.
  • Best Digital Customer Experience Strategy Award.
  • SAP ACE Disruptor award 2021, for Excellence in Customer Experience Management.


  • Global Platinum Award 2020 on Sustainability from The Energy and Environment Foundation.
  • Special Recognition in SHRM Award for Excellence in Learning and Development.
  • CII Environmental Project Awards.
  • Corporate Citizen of the Year -2020.
  • Manufacturing Supply Chain Award.


  • Golden Peacock Award for Sustainability for FY 2018-19.
  • Grant Thornton Social and Business Enterprise Responsible Awards (SABERA).
  • Global CX Summit Exceptional Experience Awards for Best Social Media Strat.

Bharat Petroleum - Advertisements and Campaigns

BPCL New Year, New Journey Advertisement

Earlier this year, the company did a video campaign on the occasion of the New Year. Through the campaign, the brand wanted to aim at the obstacles and challenges one goes through its journey and directed them to stay motivated through the support of BPCL.

The company is also active in engaging with its customers by having a solid social media presence. You can follow the company on Facebook, Instagram, Twitter, and LinkedIn, or reach out to them by email.

Marketing Strategy of Indian Oil Corporation Limited (IOCL)
Get an insider insight into the marketing strategies of Indian Oil Corporation Limited (IOCL) that makes it India’s most profitable govt. company.

Bharat Petroleum - Mergers and Acquisitions

In 2021, the company, which earlier merged with Oman Oil in BORL bought the company for $24 million for 36.62% equity. This allowed BPCL to own BORL in its entirety as a subsidiary.

The company has made two major investments. The most recent investment was on Aug 24, 2018, when Medtel Healthcare raised ₹10 million. Before that BPCL was also a lead investor in FINO PayTech, when it raised $37.6 million on 29 July 2016.

Bharat Petroleum - Challenges Faced

Recently, the company announced a decline of 82% in its net profit in the quarter that ended in March 2022. The reason for this is due to the uncertainties attached to fuel prices even though there was a hike. Many oil marketing firms have also witnessed this loss. This comes after international crude oil prices stayed beyond $100 per barrel.

According to BPCL, refinery throughput decreased from 8.39 million tonnes a year earlier to 8.12 million tonnes in the January-March quarter. Nevertheless, its market sales increased from 11.17 million tonnes to 11.82 million tonnes.

Bharat Petroleum - Future Plans

The company has an upcoming project called the 'Petrochemical Diversification". It plans to diversify in this area to provide an attractive higher value addition over transportation fuels. The company plans to invest around Rs 13,000 crores in this project.


Who is Bharat Petroleum's owner?

The government of India is the owner of Bharat Petroleum with a shareholding of 52.98%.

Is BPCL in profit or loss?

BPCL has recorded an attributable net profit of 11,681.50 crore INR in the year 2021-22, as against 17,319 crore INR in the previous year.

What is Bharat Petroleum's revenue for 2022?

Bharat Petroleum recorded consolidated revenue of $54.2 billion for FY22.

What is the use of the BPCL card?

SBI launched the BPCL SBI credit card in collaboration with Bharat Petroleum Corporation Limited. The card offers a value-back of 4.25% on fuel purchases at BPCL petrol pumps. The card also offers other rewards in categories like movies, dining, grocery shopping, etc.

What's the market capitalization of BPCL?

BPCL has a market capitalization of 72,377.12 crores INR.

Which petroleum company is best in India?

The following are the best petroleum companies in India:

  • Bharat Petroleum
  • Reliance Petroleum Limited
  • Oil and Natural Gas Corporation (ONGC)
  • Hindustan Petroleum
  • Indian Oil Corporation Ltd. (IOCL)
  • Oil India

Is BPCL getting Privatised?

The government was willing to sell its entire stake of 52.98% in Bharat Petroleum for privatization. However, for now, the centre has withdrawn this offer as two out of three companies that showed interest in the offer walked out of bids.

Must have tools for startups - Recommended by StartupTalky

Read more