Highlights BPCL AGM Speech August 2022

• The amalgamation of Bharat Gas Resources Limitedand Bharat Oman Refineries Limited, our wholly owned subsidiaries, with BPCL has been completed with effect from August 16, 2022 and July 1, 2022, respectively.
• Recognizing the need to diversify and create additional revenue streams as the energy landscape undergoes transformation, BPCL has,during 2021-22, created two new Business Units,namely,Renewable Energy and New Businesses, to pursue clean energybusinessand consumer retailing business in a focused manner.
• Coming to the operational performance during the year 2021-22, BPCL has registered an improvement in physical parameters, with market sales of 42.51 MMT and crude throughput of 30.07 MMT on a standalone basis, as against 38.74 MMT and 26.40 MMT, respectively, in the previous year.
• BPCL has achieved the number 1 position in market sales growth amongst the PSU Oil Marketing Companies.
• The Company has identified six strategic areas – Petrochemicals, Gas, Renewables, New Businesses,that is, Consumer Retailing, E-mobility and Upstream, which will serve as pillars of future growth and create sustainable value for all stakeholders, while the core business of refining and marketing of petroleum products continues to provide stability and funding bandwidth.
• It was indeed a proud moment for BPCL when, during the year 2021-22, our 355-km Bina-Kanpur multi-product pipeline was dedicated to the nation by the Hon’ble Prime Minister.
• BPCL’s topmost priority now is to enhanceits presence in the Petrochemicals space.
• The company has planned two new projects – the Ethylene Cracker project at Bina Refinery and the Polypropylene project at Kochi Refinery, for which feasibility studies and other pre-project activities are underway.
• The projectsare likely to take around four years for completion once the environmental clearance is received and are expected to come on stream by 2026-27.
• Once commissioned, these will increase the share of petrochemicals in the Company’s product portfolio from around 1% currently to about 8%.
• In theCity Gas Distribution segment of the natural gas business in the country, BPCL has further expanded its footprint, acquiring licenses for 8 new Geographical Areas in the recently concluded 11^th and 11A CGD bidding rounds.
• With this, BPCL has licenses for developing CGD networks in 25 GAs covering 62 districts. On an overall basis, the Companyhas interest in a total of 50 GAs covering 105 districts, inclusive of JVs
• Success in the past few roundsof CGD bidding has seen BPCL emerge as one of the top 3 CGD players in the country. Further, commercial operations have started at 8 new GAs during the year, while work in other GAs is progressing well.
• BPCL has articulated its aspiration to achieve net-zero emissions in Scope 1 and Scope 2 by 2040, a first among PSU Oil Marketing Companies, andhas formed an Energy Transition Council to drive this objective.
• BPCL has planned to scale up its renewable energy portfolio from less than 50 megawatts today to 1 gigawatt by 2025 and 10 gigawatts by 2040
• BPCL has decided to expand its reach and presence in the non-fuel business to offer consumables, durables and services by leveraging BPCL’s pan-India network of over 20,000 Fuel Stations and 6,200+ LPG Distributors.
• Developed a unique digitally enabled omni-channel business modelto provide fuel and non-fuel offerings to the lowest strata of the Indian market,through engagement of rural womenfolk entrepreneurs called “Urja Devis”.
• The company has come out with an innovative concept of creating Highway Fast Charging Corridors to address the range anxiety related to four-wheelers.
• On a pilot basis, the Company has adopted 900 km of the Chennai-Trichy-Madurai highway, NH-45, where it has set up a recharge facility at every 100 km distance at its Retail Outlets along both sides of this stretch.
• BPCL plans to extend this facility across 200 highway corridors with around 2,000 Retail Outlets in the year 2022-23
• The Company has formed alliances with various electric two-wheeler companies to provide fast charging facilities at its Retail Outlets and plans to expand its business in the e-mobility space as the market grows.
• In the upstream space, Bharat PetroResources Limited, has achieved a major milestone in the development of one of its biggest exploration assets – the BM Seal 11 Concession in Brazil, with the consortium submitting Declaration of Commerciality for the oil and gas discovery in December 2021.
• BPCL has recently received the approval of Cabinet Committee of Economic Affairs for the proposed investment of approximately USD 1.6 billion in the asset.
• The company launched “Ufill”, a pioneering initiative, whereby the entire control of fueling the vehicle,right from payment at the time and place of his choice, to auto-presetting the fuel dispenser at the RO for the amount paid, rests with the customer. Today, UFill is active at more than 10,400 ROs and has a customer base of around 1 crore and growing.
• BPCLrecently achieved 10% blending of ethanol in petrol and is committed to increasing the blending percentage in line with the roadmap laid by the government.
• The Company’s Aviation business registered a growth of 32% in Aviation Turbine Fuel sales over the previous year, achieving volumes of 1,050 TMT with a market share of nearly 22.3.
• The Company improved its rank from 10th in the previous year to become the 8th Best Company globally in the Oil and Gas sector in the year 2021-22 on Environment, Social and Governance,that is, ESG parameters on the Dow Jones Sustainability Index platform.