Bharat Petroleum Company (BPCL) on Thursday, 23 January, introduced in an alternate submitting that it plans to speculate $121 million to develop the Indonesian oil and fuel block often called Nunukan.
The corporate’s exploration unit, Bharat PetroResources, owns 16.23% of the Nunukan block, which is run by Indonesia’s nationwide oil firm, Pertamina.
The Indian refiner is requesting permission from Indonesian authorities to develop the land.
BPCL, India’s second-largest state-run refiner, reported a 36.85% year-on-year rise in its December quarter web revenue to roughly Rs 4,649 crore in comparison with Rs 3,397 crore reported in the identical quarter final 12 months.
Regardless of a upkeep shutdown, the corporate achieved a mean capability utilization of 107% throughout its three refineries through the quarter.
Nonetheless, the corporate’s income from operations stood at Rs 1,27,520.50 crore, a marginal decline from Rs 1,29,946.95 crore recorded in the identical quarter of the earlier fiscal 12 months.
Furthermore, the corporate has additionally declared an interim dividend of Rs 5 per fairness share and has set 29 January because the report date for the dividend.
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