Bharat Petroleum to focus on low-cost expansion

Bharat Petroleum Corporation plans to reach refining capacity of almost 42 million metric tons (mt) from 2015-16 and focus will be on low-cost expansions. It will invest Rs40,000 crore (US$809.5 million) over the next five years. The company’s Kochi Refinery will have the largest capacity increase, from 9.5 million mt to 15.5 million mt during the period. The Bina refinery, which is a joint venture with Oman Oil, will have a capacity of nine million mt during the same period. R.K. Singh, chairman and managing Director, said a brand new crude distillation unit will be set up in the Mumbai refinery and the capacity will go up from 12 million mt to 14 million mt. (September 19, 2011)