BPCL & SHIPPING CORPORATION OF INDIA MOU: A GAME-CHANGER FOR INDIA'S MARITIME AND ENERGY SECTORS
NEW DELHI, Feb. 12, 2025 /PRNewswire/ -- In a landmark development that is set to revolutionise India's maritime and energy sectors, Bharat Petroleum Corporation Limited (BPCL), a leading player in India's energy sector, has signed a Memorandum of Understanding (MoU) with the Shipping Corporation of India (SCI) to establish a strategic partnership.
The agreement was signed by Shri Manoj Heda, Executive Director, International Trade and Risk Management, BPCL and Shri Atul Ubale Director Bulk Carrier and Tankers Division, in the presence of Shri Vetsa Ramakrishna Gupta, Director – Finance, BPCL and Shri Dinesh Kutty DGM I/c Tank er Commercial SCI. This collaboration marks a significant step towards strengthening India's global maritime presence, a key focus area of the Maritime Amrit Kaal Vision 2047 set by the Government of India.
This partnership is a step towards building a world-class shipping ecosystem that supports India's growing energy needs. By working together, BPCL aims to create a dedicated, efficient and future-ready maritime infrastructure that will not only strengthen its supply chain but also contribute to India's position as a global maritime leader.
During the signing of the MoU, Shri G. Krishnakumar, Chairman & Managing Director, BPCL, said, "Our partnership with SCI is a step towards building a world-class shipping ecosystem that supports India's growing energy needs. By working together, we aim to create a dedicated, efficient, and future-ready maritime infrastructure that will not only strengthen our supply chain but also contribute to India's position as a global maritime leader. This collaboration is aligned with the Government of India's vision for self-reliance and energy security."
Key Highlights of the Partnership:
- Dedicated Shipping Network: BPCL and SCI will jointly develop a dedicated and efficient shipping network for the transportation of crude oil, gas, and petroleum products.
- Operational Efficiency: The collaboration aims to improve operational efficiency, expand capabilities, and drive innovation in the maritime sector.
- Energy Security: The partnership will ensure a secure and resilient energy supply chain, supporting India's growing energy needs.
- Long-term Commitment: The MoU represents a long-term commitment by BPCL and SCI to explore opportunities that enhance India's maritime strength while ensuring a reliable energy transportation network.
About Bharat Petroleum Corporation Ltd. (BPCL):
Fortune Global 500 Company, Bharat Petroleum is the second largest Indian Oil Marketing Company and one of the integrated energy companies in India, engaged in refining of crude oil and marketing of petroleum products, with presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted Maharatna status, joining the club of companies having greater operational & financial autonomy.
Bharat Petroleum's Refineries at Mumbai, Kochi and Bina have a combined refining capacity of around 35.3 MMTPA. Its marketing infrastructure includes a network of installations, depots, fuel stations, aviation service stations and LPG distributors. Its distribution network comprises over 22,000+ Fuel Stations, over 6,250 LPG distributorships, 525 Lubes distributorships, 123 POL storage locations, 54 LPG Bottling Plants, 63 Aviation Service Stations, 5 Lube blending plants and 4 cross-country pipelines as on 31.08.2024.
Bharat Petroleum is integrating its strategy, investments, environmental and social ambitions to move towards a sustainable planet. The company has chalked out the plan to offer electric vehicle charging stations at around 7000 Fuel Stations over next 5 years.
With a focus on sustainable solutions, the company is developing an ecosystem and a road-map to become a Net Zero Energy Company by 2040, in Scope 1 and Scope 2 emissions. Bharat Petroleum has been partnering communities by supporting several initiatives connected primarily in the areas of education, water conservation, skill development, health, community development, capacity building and employee volunteering. With 'Energising Lives' as its core purpose, Bharat Petroleum's vision is to be an admired global energy company leveraging talent, innovation & technology.
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