BPCL to Invest $2.9 Bn in Mozambique and Brazil Exploration
OIL & GAS

BPCL to Invest $2.9 Bn in Mozambique and Brazil Exploration

Bharat Petroleum Corporation (BPCL) plans to invest around Rs 25,000 crore (approximately $2.9 billion) in exploration and production projects in Mozambique and Brazil over the next three years, as announced by Chairman G Krishnakumar.

BPCL’s Mozambique project, halted in 2021 due to insurgent attacks, is expected to resume in the fourth quarter of this fiscal year. TotalEnergies, the operator, has expressed optimism, with work slated to begin in 2025. The project has significant potential with reserves of 64 trillion cubic feet and a capacity of 13 million tonnes per annum.

BPCL is also expanding its petrochemical business, aiming to increase the sector’s contribution to 15% by 2040. Two new petrochemical projects in Bina and Kochi, with a total investment of Rs 54,000 crore, are part of the expansion.

Bharat Petroleum Corporation (BPCL) plans to invest around Rs 25,000 crore (approximately $2.9 billion) in exploration and production projects in Mozambique and Brazil over the next three years, as announced by Chairman G Krishnakumar. BPCL’s Mozambique project, halted in 2021 due to insurgent attacks, is expected to resume in the fourth quarter of this fiscal year. TotalEnergies, the operator, has expressed optimism, with work slated to begin in 2025. The project has significant potential with reserves of 64 trillion cubic feet and a capacity of 13 million tonnes per annum. BPCL is also expanding its petrochemical business, aiming to increase the sector’s contribution to 15% by 2040. Two new petrochemical projects in Bina and Kochi, with a total investment of Rs 54,000 crore, are part of the expansion.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Sabarmati Riverfront Two Plots Up for Auction at Rs2.24 bn Base Price

Two commercial plots on the western bank of the Sabarmati Riverfront will be auctioned with a base price of Rs 112 crore each, equivalent to Rs 1.12 bn apiece and Rs 2.24 billion in total. The parcels are located adjacent to the Metro Rail Bridge in Ahmedabad and form the first commercial offering after a prolonged pause. The Riverfront Development Corporation has framed the sale as part of a phased commercial release to revive development along the riverfront. The combined base valuation has been set by the corporation to reflect market rates along the riverfront. The corporation has fixed a ..

Next Story
Infrastructure Urban

Andhra Pradesh to Connect Over One Million Streetlights

Andhra Pradesh will undertake a statewide smart streetlighting programme across all 123 Urban Local Bodies (ULBs), bringing around 1.05 million (mn) streetlights under an AI enabled monitoring and management system. The programme will be implemented by Energy Efficiency Services Limited (EESL) with the Commissioner and Director of Municipal Administration under the state Municipal Administration and Urban Development Department. The project aims to convert conventional streetlighting into a digitally managed municipal service monitored and maintained remotely. The initial phase will cover abou..

Next Story
Infrastructure Urban

AMC To Procure Four Machines For Guard Rail Cleaning

Ahmedabad Municipal Corporation will introduce four specialised machines for cleaning guard railings along major roads and the central verges of BRTS and Metro corridors. The civic body plans to replace manual labour with mechanised cleaning to improve maintenance of road infrastructure and greenery. The purchase is estimated at Rs 82.8 million (mn), excluding GST. The proposal sets the base price of each machine at about Rs 20.7 million (mn) so four units total Rs 82.8 million (mn) before GST. 18 per cent GST will be applicable separately. During the warranty period each machine will operate ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement