BPCL to Operate New Liquid Terminal at JN Port Temporarily

IOCL, BPCL, HPCL report Rs 810 bn profit in FY24

The state-owned fuel retailers Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation Ltd announced substantial profits totalling around Rs 810 billion in FY24, significantly surpassing their earnings in years prior to the oil crisis. According to regulatory filings, their combined standalone net profit from April 2023 to March 2024 (FY24) exceeded their annual earnings of Rs 393.56 billion in pre-oil crisis years.

It was reported by them that all three companies achieved their highest-ever standalone as well as consolidated net profit in FY24.

Noida Airport & BPCL to Lay Dedicated ATF Pipeline

Noida International Airport (NIA) and Bharat Petroleum Corporation Ltd (BPCL) have inked a pivotal agreement to establish a dedicated aviation turbine fuel (ATF) pipeline. This pipeline, stretching over 34 kilometers with a segment extending 1.2 kilometers within the airport premises, is poised to revolutionize fuel transportation logistics for the under-construction airport.

Once operational, this dedicated ATF pipeline will function on a common/contract carrier basis, ensuring a seamless flow of fuel transportation to the airport, according to a joint statement released by the entitie..

Ahasolar secures 52 MW solar project consultancy from BPCL

The company stated that they had quoted Rs 5.1 million to secure the ten-month contract.

BPCL had released the tender for the project back in February.

The company expressed their intention to utilize the solar project to power three of its refineries: 8 MW for Mumbai Refinery, 22 MW for Bina Refinery, and 16 MW for Kochi Refinery.

It was mentioned that Ahasolar would be tasked with overseeing the project from concept to commissioning within the agreed schedule, ensuring that the quality of procurement items and construction workmanship aligned with established engineer..

Indian container cargo set to expand by 8% in FY25 amidst Red Sea crisis

CareEdge Ratings forecasts that Indian container cargo volume will experience an 8% growth, reaching 342 million tonnes (mt) in FY25. They also anticipate the risk of a prolonged Red Sea crisis. In a sectoral report, the agency mentions that the connection of the Dedicated Freight Corridor to Jawaharlal Nehru Port Trust (JNPT) in FY26, coupled with capacity expansions by ports, will likely propel the growth in container volumes in the medium term. According to the report, significant adverse movements in charter rates affecting cargo volumes, as well as vessel additions by shipping lines, will..

Nalanda Capital Sells Stake in Great Eastern Shipping

Nalanda Capital has divested a 1.4% stake in Great Eastern Shipping, a prominent player in the ports and shipping industry, for a total sum of Rs. 1.90 billion. This move comes amidst evolving market dynamics and reflects Nalanda Capital's strategic realignment of its investment portfolio.

The sale of shares in Great Eastern Shipping represents a calculated decision by Nalanda Capital to optimise its investment holdings and capitalise on market opportunities. The transaction, valued at Rs. 1.90 billion, underscores the investor's confidence in realising returns while maintaining flexibi..