Bharat Petroleum Corporation Limited (BPCL) is set to allocate up to ₹36,000 crore for capital expenditure (capex) over the two fiscal years concluding in FY26, with a significant portion earmarked for enhancements in refineries, marketing, and petrochemicals. The oil marketing company (OMC) plans to invest ₹15,000-₹16,000 crore in the ongoing financial year and ₹16,000-₹20,000 crore in FY26.
This forms a key segment of the Maharatna company’s ‘Project Aspire’, wherein it aims to channel ₹1.7 lakh crore by FY29 to bolster refining capacity to 45 million tons per annum (mtpa) and incorporate 4,000 new fuel stations, among other initiatives. Additionally, the company is set to inject ₹20,000 crore into its marketing arm and allocate ₹32,000 crore towards amplifying upstream production, with a primary focus on projects in Mozambique and Brazil, contingent on ground developments.
It will also inject ₹25,000 crore to its gas business and earmark ₹10,000 crore for the establishment of ten gigawatt (GW) renewable energy capacities.
As reported by businessline, the company is poised to establish twenty-six compressed biogas (CBG) plants in the near future. It also aims to produce thirty kilo tons per annum (KTPA) of green hydrogen within its refineries by 2030 to meet ten percent of captive demand, with a pilot green hydrogen refuelling station project already underway.
